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

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 12,352 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80.

AltaGas Price Performance

TSE ALA traded up C$0.19 during midday trading on Wednesday, hitting C$33.67. The company had a trading volume of 121,014 shares, compared to its average volume of 784,880. AltaGas Ltd. has a twelve month low of C$26.91 and a twelve month high of C$35.77. The firm has a 50-day moving average price of C$33.65 and a 200-day moving average price of C$33.15. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The company has a market capitalization of C$10.01 billion, a PE ratio of 23.22, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Analysts Set New Price Targets

ALA has been the topic of several analyst reports. CIBC upped their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Jefferies Financial Group upped their target price on shares of AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. downgraded AltaGas from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. ATB Capital set a C$36.00 price objective on shares of AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada upped their target price 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, AltaGas has a consensus rating of “Moderate Buy” and a consensus price target 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.