Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells 144,064 Shares of Stock

AltaGas Ltd. (TSE:ALA - Get Free Report) Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of AltaGas stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00.

Corine Renae Knight Bushfield also recently made the following trade(s):

• On Friday, March 14th, Corine Renae Knight Bushfield sold 108,589 shares of AltaGas stock. The stock was sold at an average price of C$38.10, for a total value of C$4,137,240.90.

AltaGas Trading Down 1.8 %

Shares of ALA traded down C$0.69 during mid-day trading on Monday, reaching C$37.34. The company's stock had a trading volume of 1,585,513 shares, compared to its average volume of 905,264. 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 52 week low of C$28.76 and a 52 week high of C$38.61. The company's fifty day moving average price is C$35.04 and its two-hundred day moving average price is C$34.28. The stock has a market cap of C$11.12 billion, a PE ratio of 21.64, a P/E/G ratio of -4.97 and a beta of 1.23.

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

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AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a $0.315 dividend. The ex-dividend date is Monday, March 17th. This is a boost from AltaGas's previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 3.37%. AltaGas's dividend payout ratio (DPR) is presently 68.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Scotiabank raised their target price on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. CIBC raised their price objective on shares of AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, AltaGas has a consensus rating of "Moderate Buy" and an average target price of C$39.11.

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.