Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells 5,000 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Bertram Grant Bradley sold 5,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of C$27.26, for a total value of C$136,300.00.

AltaGas Trading Up 1.0 %

Shares of ALA stock opened at C$27.25 on Tuesday. AltaGas Ltd. has a 12-month low of C$21.25 and a 12-month high of C$29.04. The company has a current ratio of 1.00, a quick ratio of 0.44 and a debt-to-equity ratio of 110.58. The stock’s 50-day moving average price is C$25.84 and its 200-day moving average price is C$24.20. The stock has a market capitalization of C$7.68 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of -4.97 and a beta of 1.29.

AltaGas (TSE:ALA) last issued its earnings results on Friday, July 28th. The company reported C$0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.09 by C($0.03). The firm had revenue of C$2.63 billion during the quarter, compared to the consensus estimate of C$3.27 billion. AltaGas had a return on equity of 9.08% and a net margin of 5.05%. Equities research analysts predict that AltaGas Ltd. will post 2.0589135 EPS for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 29th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, September 14th. AltaGas’s payout ratio is 52.91%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ALA shares. TD Securities decreased their target price on shares of AltaGas from C$34.00 to C$32.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Royal Bank of Canada raised their target price on shares of AltaGas from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. BMO Capital Markets set a C$36.00 price target on AltaGas and gave the company an “outperform” rating in a report on Friday, September 8th. National Bankshares raised their price target on AltaGas from C$32.00 to C$33.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Finally, ATB Capital raised their price target on AltaGas from C$34.00 to C$35.00 in a report on Friday, September 1st. 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.com, the stock has an average rating of “Moderate Buy” and an average target price of C$32.15.

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 1.7 million customers.