Insider Selling: AltaGas Ltd. (TSE:ALA) Director Sells C$50,556.00 in Stock

AltaGas Ltd. (TSE:ALA) Director Deborah Susan Stein sold 1,650 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$30.64, for a total value of C$50,556.00.

AltaGas Stock Up 0.2 %

ALA stock opened at C$30.47 on Friday. The company has a debt-to-equity ratio of 117.56, a current ratio of 1.01 and a quick ratio of 0.44. The company has a 50-day moving average of C$30.28 and a two-hundred day moving average of C$29.00. The stock has a market capitalization of C$9.02 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. AltaGas Ltd. has a 52-week low of C$22.62 and a 52-week high of C$31.50.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported C$1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.05 by C$0.09. AltaGas had a net margin of 5.03% and a return on equity of 7.93%. The business had revenue of C$3.66 billion for the quarter, compared to the consensus estimate of C$4.13 billion. As a group, equities research analysts anticipate that AltaGas Ltd. will post 2.1388695 EPS for the current year.

AltaGas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 28th will be given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Friday, June 14th. AltaGas’s dividend payout ratio (DPR) is presently 57.77%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALA shares. ATB Capital upped their price target on shares of AltaGas from C$35.00 to C$36.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. CIBC boosted their price objective on AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. National Bankshares raised their target price on shares of AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Jefferies Financial Group set a C$34.00 price target on shares of AltaGas and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada lifted their price objective on shares of AltaGas from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$35.00.

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.