Insider Selling: AltaGas Ltd. (TSE:ALA) Director Sells 25,200 Shares of Stock

AltaGas Ltd. (TSE:ALA - Get Free Report) Director Peter James Ledig sold 25,200 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of C$38.35, for a total value of C$966,420.00.

AltaGas Stock Up 0.3 %

Shares of TSE:ALA traded up C$0.13 during trading on Thursday, hitting C$38.30. 951,491 shares of the company were exchanged, compared to its average volume of 890,992. The stock has a market cap of C$11.40 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas Ltd. has a fifty-two week low of C$28.63 and a fifty-two week high of C$38.61. The firm has a fifty day moving average price of C$34.87 and a two-hundred day moving average price of C$34.21.

AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, research analysts anticipate that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas's dividend payout ratio (DPR) is presently 68.98%.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank boosted their target price on AltaGas from C$40.00 to C$42.00 in a research note on Monday. CIBC lifted 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$39.11.

AltaGas Company Profile

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.