AltaGas Ltd. (TSE:ALA) Director Peter James Ledig Sells 25,200 Shares of Stock

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 25,200 shares of AltaGas stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total transaction of C$966,420.00.

AltaGas Stock Performance

ALA stock opened at C$38.17 on Thursday. The company has a market capitalization of C$11.36 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of -4.97 and a beta of 1.23. The firm has a 50 day moving average of C$34.77 and a two-hundred day moving average of C$34.18. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. AltaGas Ltd. has a 12 month low of C$28.63 and a 12 month high of C$38.61.

AltaGas (TSE:ALA) last posted its earnings results on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, equities analysts anticipate that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 3.12%. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALA. CIBC boosted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Scotiabank boosted their price objective on AltaGas from C$40.00 to C$42.00 in a research note on Monday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$39.11.

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.