James Harbilas Sells 26,100 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 26,100 shares of the firm’s stock in a transaction 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.

AltaGas Stock Up 0.4 %

Shares of TSE ALA opened at C$30.23 on Thursday. 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 stock has a market capitalization of C$8.93 billion, a PE ratio of 13.38, a P/E/G ratio of -4.97 and a beta of 1.22. The firm has a fifty day moving average of C$29.56 and a 200-day moving average of C$28.24. AltaGas Ltd. has a 52-week low of C$22.57 and a 52-week high of C$30.58.

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

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s dividend payout ratio is 52.65%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALA. Scotiabank lifted their price objective on AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. TD Securities lifted their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Jefferies Financial Group set a C$34.00 price objective on shares of AltaGas and gave the company a “buy” rating in a research note on Tuesday, February 27th. National Bankshares raised their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada boosted their price target on AltaGas from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$34.15.

AltaGas Company Profile

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.