Donald Mark Jenkins Sells 12,352 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA - Get Free Report) 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 Stock Up 0.3 %

ALA stock traded up C$0.09 during mid-day trading on Wednesday, hitting C$33.57. 533,599 shares of the company were exchanged, compared to its average volume of 827,003. The firm has a fifty day simple moving average of C$33.65 and a 200 day simple moving average of C$33.15. The company has a market capitalization of C$9.98 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a twelve month low of C$26.91 and a twelve month high of C$35.77. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.298 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.55%. AltaGas's dividend payout ratio (DPR) is 82.07%.

Wall Street Analyst Weigh In

Several research firms have commented on ALA. Royal Bank of Canada raised their price objective on AltaGas from C$37.00 to C$40.00 and gave the company an "outperform" rating in a research report on Thursday, October 3rd. CIBC raised their target price on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a report on Thursday, January 9th. Scotiabank boosted their price target on AltaGas from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut shares of AltaGas from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, AltaGas presently has a consensus rating of "Moderate Buy" and an average 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.