AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$105,960.00 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 3,000 shares of AltaGas stock in a transaction that occurred on Monday, September 16th. The shares were 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 stock was sold at an average price of C$33.82, for a total value 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 value of C$597,006.00.

AltaGas Stock Down 1.0 %

ALA opened at C$34.97 on Thursday. AltaGas Ltd. has a one year low of C$24.67 and a one year high of C$35.49. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The stock has a market capitalization of C$10.40 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of -4.97 and a beta of 1.24. The business’s 50-day simple moving average is C$33.00 and its 200-day simple moving average is C$31.03.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.02. The business had revenue of C$2.78 billion during the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 dividend yield of 3.41%. The ex-dividend date of this dividend is Monday, September 16th. AltaGas’s dividend payout ratio is currently 82.07%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALA shares. CIBC increased their price target on shares of AltaGas from C$38.00 to C$40.00 in a research report on Monday, July 15th. Jefferies Financial Group lifted their target price on AltaGas from C$34.00 to C$37.00 and gave the company a “buy” rating in a report on Monday, July 29th. Scotiabank upped their price target on AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price objective on AltaGas from C$33.00 to C$36.00 in a research note on Friday, July 19th. Finally, Raymond James boosted their price objective on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, AltaGas currently has a consensus rating of “Buy” and an average target price of C$37.40.

About AltaGas

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.