AltaGas Ltd. (TSE:ALA) Director Derek Watson Evans Acquires 19,239 Shares

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

AltaGas Trading Down 0.2 %

TSE ALA traded down C$0.08 during mid-day trading on Thursday, hitting C$38.90. The company’s stock had a trading volume of 159,494 shares, compared to its average volume of 896,610. The firm has a market capitalization of C$11.58 billion, a P/E ratio of 22.55, a price-to-earnings-growth 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 52-week low of C$28.76 and a 52-week high of C$39.28. The stock’s fifty day simple moving average is C$35.68 and its two-hundred day simple moving average is C$34.50.

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

AltaGas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a $0.315 dividend. This is a boost from AltaGas’s previous quarterly dividend of $0.30. This represents a $1.26 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, March 17th. AltaGas’s dividend payout ratio is presently 68.98%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. CIBC lifted 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. Scotiabank raised their target price on shares of AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.