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

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

AltaGas Stock Down 1.6 %

ALA traded down C$0.49 during trading hours on Thursday, hitting C$30.50. 169,927 shares of the company’s stock were exchanged, compared to its average volume of 820,185. AltaGas Ltd. has a 12-month low of C$22.62 and a 12-month high of C$31.50. The firm has a 50 day moving average of C$30.22 and a 200 day moving average of C$28.95. The firm has a market cap of C$9.03 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. The company has a current ratio of 1.01, a quick ratio of 0.44 and a debt-to-equity ratio of 117.56.

AltaGas (TSE:ALAGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported C$1.14 earnings per share 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 firm had revenue of C$3.66 billion for the quarter, compared to the consensus estimate of C$4.13 billion. Analysts predict that AltaGas Ltd. will post 2.1388695 EPS for the current fiscal year.

AltaGas Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. National Bankshares boosted their target price on shares of AltaGas from C$33.00 to C$35.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Raymond James boosted their target price on shares of AltaGas from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Jefferies Financial Group set a C$34.00 target price on shares of AltaGas and gave the company a “buy” rating in a report on Tuesday, February 27th. Scotiabank upped their price objective on shares of AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, ATB Capital upped their price objective on shares of AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AltaGas currently has a consensus rating of “Buy” and an average target price of C$35.00.

View Our Latest Analysis on AltaGas

About AltaGas

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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.

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Insider Buying and Selling by Quarter for AltaGas (TSE:ALA)

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