AltaGas Ltd. (TSE:ALA - Get Free Report) Senior Officer James Harbilas sold 26,100 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of C$30.50, for a total transaction of C$796,050.00.
AltaGas Price Performance
AltaGas stock opened at C$30.10 on Wednesday. The company's fifty day moving average price is C$29.54 and its 200 day moving average price is C$28.23. AltaGas Ltd. has a 1 year low of C$22.57 and a 1 year high of C$30.58. The stock has a market capitalization of C$8.89 billion, a P/E ratio of 13.32, a P/E/G ratio of -4.97 and a beta of 1.22. The company has a debt-to-equity ratio of 125.64, a quick ratio of 0.44 and a current ratio of 0.89.
AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Friday, March 8th. The company reported C$0.75 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of C$0.75. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. The firm had revenue of C$3.29 billion for the quarter, compared to analysts' expectations of C$4.11 billion. As a group, equities research analysts anticipate that AltaGas Ltd. will post 2.1549815 earnings per share for the current fiscal year.
AltaGas Increases Dividend
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The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were paid a $0.298 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a yield of 3.96%. This is a boost from AltaGas's previous quarterly dividend of $0.28. AltaGas's dividend payout ratio (DPR) is currently 52.65%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ALA shares. TD Securities raised their price target 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. Royal Bank of Canada lifted their target price on shares of AltaGas from C$32.00 to C$34.00 and gave the company an "outperform" rating in a report on Friday, May 3rd. Scotiabank lifted 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 Friday, May 3rd. 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. Finally, National Bankshares lifted their target price on shares of AltaGas from C$31.00 to C$33.00 and gave the company an "outperform" rating in a report on Tuesday, January 30th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$34.15.
View Our Latest Stock Report on AltaGas
AltaGas Company Profile
(
Get Free Report)
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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