Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells 3,000 Shares of Stock

AltaGas Ltd. (TSE:ALA - Get Free Report) Senior Officer Randy Warren Toone sold 3,000 shares of the business's stock in a transaction that occurred on 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 transaction of C$597,006.00.

AltaGas Stock Down 0.4 %

ALA traded down C$0.15 during trading on Monday, hitting C$35.31. The company had a trading volume of 374,331 shares, compared to its average volume of 847,875. AltaGas Ltd. has a 1-year low of C$24.67 and a 1-year high of C$35.49. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The company has a market cap of C$10.50 billion, a PE ratio of 24.46, a P/E/G ratio of -4.97 and a beta of 1.24. The business has a 50-day moving average of C$32.84 and a 200-day moving average of C$30.94.

AltaGas (TSE:ALA - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.12 by C$0.02. The business had revenue of C$2.78 billion for the quarter, compared to analyst estimates 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 announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, September 16th. AltaGas's dividend payout ratio is presently 82.07%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ALA shares. National Bankshares boosted their price objective on AltaGas from C$36.00 to C$39.00 and gave the stock an "outperform" rating in a research note on Friday, August 23rd. Scotiabank boosted their price target on AltaGas from C$36.00 to C$38.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 20th. Royal Bank of Canada increased their price objective on shares of AltaGas from C$34.00 to C$37.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. CIBC lifted their price objective on shares of AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of AltaGas from C$33.00 to C$36.00 in a research note on Friday, July 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AltaGas presently has an average rating of "Buy" and a consensus price target 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.

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