Randy Warren Toone Sells 16,000 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 16,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total transaction of C$473,200.00.

Randy Warren Toone also recently made the following trade(s):

• On Friday, January 12th, Randy Warren Toone sold 5,036 shares of AltaGas stock. The shares were sold at an average price of C$28.30, for a total transaction of C$142,518.80.

AltaGas Trading Up 0.9 %

Shares of TSE:ALA traded up C$0.26 on Thursday, hitting C$29.73. The company had a trading volume of 407,533 shares, compared to its average volume of 782,721. The firm’s 50-day simple moving average is C$28.54 and its two-hundred day simple moving average is C$27.56. AltaGas Ltd. has a 1 year low of C$21.94 and a 1 year high of C$29.75. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The firm has a market capitalization of C$8.78 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of -4.97 and a beta of 1.22.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th will be given a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 4.01%. This is a boost from AltaGas’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, March 14th. AltaGas’s dividend payout ratio (DPR) is currently 52.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALA. CIBC upped their target price on shares of AltaGas from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Friday, December 29th. Jefferies Financial Group set a C$34.00 target price on shares of AltaGas and gave the stock a “buy” rating in a report on Tuesday, February 27th. TD Securities upped their target price on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Monday, March 11th. National Bankshares increased their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of AltaGas from C$33.00 to C$32.00 and set an “overweight” rating on the stock in a report on Monday, December 4th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AltaGas presently has an average rating of “Buy” and a consensus price target of C$33.23.

About AltaGas

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 1.7 million customers.