Corine Renae Knight Bushfield Sells 108,589 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Corine Renae Knight Bushfield sold 108,589 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of C$38.10, for a total transaction of C$4,137,240.90.

Corine Renae Knight Bushfield also recently made the following trade(s):

• On Wednesday, March 12th, Corine Renae Knight Bushfield sold 144,064 shares of AltaGas stock. The shares were sold at an average price of C$38.00, for a total transaction of C$5,474,432.00.

AltaGas Stock Up 1.0 %

ALA stock opened at C$37.73 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas Ltd. has a twelve month low of C$28.76 and a twelve month high of C$38.61. The company’s 50 day moving average is C$35.12 and its two-hundred day moving average is C$34.31. The stock has a market cap of C$11.23 billion, a P/E ratio of 21.87, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last released its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. Research analysts expect that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 17th. AltaGas’s payout ratio is presently 68.98%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALA. Scotiabank raised their target price on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC raised their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. One 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 company currently has a consensus 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.