Randy Warren Toone Sells 3,000 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00.

Randy Warren Toone also recently made the following trade(s):

• On Thursday, August 29th, Randy Warren Toone sold 3,000 shares of AltaGas stock. The shares were sold at an average price of C$33.82, for a total transaction of C$101,460.00.
• On Friday, June 21st, Randy Warren Toone sold 20,000 shares of AltaGas stock. The stock was sold at an average price of C$29.85, for a total value of C$597,006.00.

AltaGas Stock Performance

TSE ALA opened at C$34.97 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. AltaGas Ltd. has a fifty-two week low of C$24.67 and a fifty-two week high of C$35.49. The business has a fifty day moving average of C$33.00 and a 200-day moving average of C$31.03. The stock has a market cap of C$10.40 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of -4.97 and a beta of 1.24.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion during the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%.

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Monday, September 16th. AltaGas’s payout ratio is 82.07%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALA. ATB Capital increased their price objective on AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. BMO Capital Markets raised their price objective on AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. National Bankshares boosted their target price on AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on AltaGas from C$33.00 to C$36.00 in a report on Friday, July 19th. Finally, Raymond James lifted their price target on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$37.40.

AltaGas Company Profile

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.