Insider Selling: AltaGas Ltd. (TSE:ALA) Director Sells 13,361 Shares of Stock

AltaGas Ltd. (TSE:ALA) Director Peter James Ledig sold 13,361 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of C$40.04, for a total transaction of C$534,974.44.

Peter James Ledig also recently made the following trade(s):

• On Tuesday, March 11th, Peter James Ledig sold 25,200 shares of AltaGas stock. The stock was sold at an average price of C$38.35, for a total value of C$966,420.00.

AltaGas Price Performance

TSE:ALA traded down C$1.46 during mid-day trading on Friday, reaching C$37.66. The stock had a trading volume of 228,179 shares, compared to its average volume of 903,666. The stock has a market capitalization of C$11.21 billion, a P/E ratio of 21.83, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a one year low of C$28.76 and a one year high of C$40.17. The firm has a 50 day moving average price of C$36.24 and a two-hundred day moving average price of C$34.72. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, analysts expect that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.315 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.26 annualized dividend and a yield of 3.35%. This is an increase from AltaGas’s previous quarterly dividend of $0.30. AltaGas’s payout ratio is presently 68.98%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALA shares. Scotiabank lifted their target price on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC raised their price target on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$39.11.

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.