Derek Watson Evans Purchases 19,239 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Director Derek Watson Evans acquired 19,239 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average cost of C$38.98 per share, with a total value of C$749,936.22.

AltaGas Stock Performance

Shares of TSE:ALA opened at C$38.99 on Friday. The business has a 50-day moving average of C$35.85 and a two-hundred day moving average of C$34.57. The firm has a market capitalization of C$11.61 billion, a PE ratio of 22.60, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. AltaGas Ltd. has a 12 month low of C$28.76 and a 12 month high of C$39.28.

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

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a dividend of $0.315 per share. This is a positive change from AltaGas’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 17th. This represents a $1.26 annualized dividend and a dividend yield of 3.23%. AltaGas’s payout ratio is presently 68.98%.

Analyst Ratings Changes

Several analysts have commented on ALA shares. Scotiabank lifted their target price on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. CIBC lifted their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, AltaGas has an average rating of “Moderate Buy” and a consensus price target 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.