AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone Sells 3,000 Shares

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 3,000 shares of AltaGas stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00.

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

• On Thursday, August 29th, Randy Warren Toone sold 3,000 shares of AltaGas stock. The stock was sold at an average price of C$33.82, for a total value of C$101,460.00.
• On Friday, June 21st, Randy Warren Toone sold 20,000 shares of AltaGas stock. The shares were sold at an average price of C$29.85, for a total value of C$597,006.00.

AltaGas Price Performance

Shares of ALA stock traded down C$0.15 during midday trading on Monday, reaching C$35.31. 374,331 shares of the company were exchanged, compared to its average volume of 847,875. The company’s 50 day moving average price is C$32.84 and its two-hundred day moving average price is C$30.94. The company has a market cap of C$10.50 billion, a P/E ratio of 24.46, a PEG ratio of -4.97 and a beta of 1.24. AltaGas Ltd. has a 12 month low of C$24.67 and a 12 month high of C$35.49. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. The business had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%.

AltaGas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid a dividend of $0.298 per share. The ex-dividend date is Monday, September 16th. This represents a $1.19 annualized dividend and a yield of 3.38%. AltaGas’s dividend payout ratio is currently 82.07%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. ATB Capital increased their target price on AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Scotiabank increased their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. CIBC boosted their target price on shares of AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. BMO Capital Markets upped their target price on shares of AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. Finally, Raymond James lifted their price target on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$37.40.

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.