Insider Selling: AltaGas Ltd. (TSE:ALA) Director Sells 19,820 Shares of Stock

AltaGas Ltd. (TSE:ALA) Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total transaction of C$665,555.60.

AltaGas Trading Up 0.3 %

ALA stock traded up C$0.10 during midday trading on Wednesday, reaching C$33.83. 50,208 shares of the company traded hands, compared to its average volume of 828,328. The firm has a market capitalization of C$10.06 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of -4.97 and a beta of 1.25. AltaGas Ltd. has a 52-week low of C$24.67 and a 52-week high of C$33.94. The business has a 50 day moving average of C$31.65 and a 200-day moving average of C$30.23. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a $0.298 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a yield of 3.52%. AltaGas’s dividend payout ratio is presently 82.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALA shares. Raymond James raised their price target on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their target price on AltaGas from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. ATB Capital boosted their price target on AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Scotiabank increased their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, National Bankshares upped their target price on shares of AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AltaGas presently has a consensus rating of “Buy” and a consensus price target of C$36.80.

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.