AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$418,732.80 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 12,352 shares of the company’s stock in a transaction dated 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

Shares of AltaGas stock opened at C$34.98 on Friday. The firm has a market cap of C$10.40 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company’s fifty day simple moving average is C$33.71 and its two-hundred day simple moving average is C$33.20. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. AltaGas Ltd. has a 12-month low of C$26.91 and a 12-month high of C$35.77.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.298 per share. The ex-dividend date was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.41%. AltaGas’s dividend payout ratio is presently 82.07%.

Analyst Ratings Changes

A number of analysts recently weighed in on ALA shares. CIBC boosted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. lowered shares of AltaGas from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from C$36.00 to C$37.00 in a report on Wednesday, October 23rd. Jefferies Financial Group increased 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. Royal Bank of Canada boosted their price target on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Scotiabank upped their price target on shares of AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$38.30.

AltaGas Company Profile

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.