Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells 12,352 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 12,352 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80.

AltaGas Trading Up 0.6 %

TSE:ALA traded up C$0.19 on Wednesday, reaching C$33.67. 121,014 shares of the stock traded hands, compared to its average volume of 784,880. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. AltaGas Ltd. has a 1-year low of C$26.91 and a 1-year high of C$35.77. The company’s 50 day moving average is C$33.65 and its 200-day moving average is C$33.15. The firm has a market capitalization of C$10.01 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. CIBC raised their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Royal Bank of Canada lifted their price target on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Scotiabank raised their price objective on shares of AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, AltaGas has a consensus rating of “Moderate Buy” and a consensus target price of C$38.30.

About AltaGas

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.