Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells C$796,050.00 in Stock

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 26,100 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of C$30.50, for a total value of C$796,050.00.

James Harbilas also recently made the following trade(s):

• On Thursday, May 9th, James Harbilas sold 100,000 shares of AltaGas stock. The shares were sold at an average price of C$30.45, for a total transaction of C$3,045,000.00.

AltaGas Stock Up 0.6 %

Shares of TSE:ALA opened at C$30.40 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The business’s 50 day moving average is C$29.59 and its 200 day moving average is C$28.26. AltaGas Ltd. has a 12-month low of C$22.57 and a 12-month high of C$30.58. The stock has a market cap of C$8.98 billion, a price-to-earnings ratio of 13.45, a PEG ratio of -4.97 and a beta of 1.22.

AltaGas (TSE:ALA) last announced its earnings results on Friday, March 8th. The company reported C$0.75 EPS for the quarter, meeting the consensus estimate of C$0.75. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. The company had revenue of C$3.29 billion during the quarter, compared to the consensus estimate of C$4.11 billion. On average, sell-side analysts forecast that AltaGas Ltd. will post 2.1549815 earnings per share for the current fiscal year.

AltaGas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a dividend of $0.298 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.19 annualized dividend and a dividend yield of 3.92%. This is a boost from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s dividend payout ratio (DPR) is currently 52.65%.

Analyst Ratings Changes

ALA has been the subject of several research analyst reports. National Bankshares lifted their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Scotiabank increased their price target on AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the company a “buy” rating in a research note on Tuesday, February 27th. Royal Bank of Canada upped their target price on AltaGas from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, TD Securities lifted their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, AltaGas presently has an average rating of “Buy” and a consensus target price of C$34.33.

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.