Donald Mark Jenkins Sells 12,352 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Donald Mark Jenkins sold 12,352 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80.

AltaGas Stock Performance

TSE ALA opened at C$34.22 on Friday. The stock has a market cap of C$10.18 billion, a P/E ratio of 23.60, a PEG ratio of -4.97 and a beta of 1.23. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. AltaGas Ltd. has a twelve month low of C$26.91 and a twelve month high of C$35.77. The company’s 50-day simple moving average is C$33.68 and its 200 day simple moving average is C$33.19.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.298 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.48%. AltaGas’s payout ratio is presently 82.07%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ALA shares. CIBC upped their price target on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. ATB Capital set a C$36.00 target price on shares of AltaGas and gave the company an “outperform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered shares of AltaGas from an “overweight” rating to a “neutral” rating and raised their price target for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group lifted their target price on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$38.30.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.