Insider Selling: AltaGas Ltd. (TSE:ALA) Senior Officer Sells 15,000 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Bertram Grant Bradley sold 15,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$30.59, for a total transaction of C$458,850.00.

Bertram Grant Bradley also recently made the following trade(s):

• On Monday, June 3rd, Bertram Grant Bradley sold 10,000 shares of AltaGas stock. The stock was sold at an average price of C$30.96, for a total transaction of C$309,600.00.

AltaGas Stock Up 0.1 %

Shares of AltaGas stock traded up C$0.03 during trading on Wednesday, hitting C$30.29. The company’s stock had a trading volume of 114,211 shares, compared to its average volume of 864,166. The company has a debt-to-equity ratio of 117.56, a quick ratio of 0.44 and a current ratio of 1.01. The company has a fifty day simple moving average of C$30.42 and a two-hundred day simple moving average of C$29.13. The company has a market capitalization of C$8.97 billion, a PE ratio of 14.69, a P/E/G ratio of -4.97 and a beta of 1.22. AltaGas Ltd. has a 52 week low of C$22.97 and a 52 week high of C$31.50.

AltaGas (TSE:ALA) last issued its quarterly earnings results 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 company had revenue of C$3.66 billion during the quarter, compared to analyst estimates of C$4.13 billion. Equities research analysts predict that AltaGas Ltd. will post 2.1388695 earnings per share for the current year.

AltaGas Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Friday, June 14th. AltaGas’s dividend payout ratio (DPR) is 57.77%.

Analysts Set New Price Targets

Several brokerages have commented on ALA. Scotiabank lifted their price objective on shares of AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Raymond James lifted their price objective on shares of AltaGas from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Jefferies Financial Group set a C$34.00 price objective on shares of AltaGas and gave the stock a “buy” rating in a research report on Tuesday, February 27th. TD Securities lifted their price objective on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, National Bankshares boosted their price target on shares of AltaGas from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.