Insider Buying: AltaGas Ltd. (TSE:ALA) Director Acquires C$749,936.22 in Stock

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

AltaGas Stock Performance

ALA stock opened at C$38.99 on Friday. The firm has a market cap of C$11.61 billion, a price-to-earnings ratio of 22.60, a PEG ratio of -4.97 and a beta of 1.23. AltaGas Ltd. has a twelve month low of C$28.76 and a twelve month high of C$39.28. The business’s fifty day simple moving average is C$35.85 and its two-hundred day simple moving average is C$34.58. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

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

AltaGas Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Scotiabank increased their price target on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$39.11.

About AltaGas

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.