AltaGas Ltd. Senior Officer Sells C$583,680 in Stock

Recently, James Harbilas, a Senior Officer at AltaGas Ltd. (TSE:ALA - Get Free Report), sold 15,200 shares of the company's stock on March 21st. The shares were sold at an average price of C$38.40, amounting to a total transaction value of C$583,680.00.

AltaGas Stock Performance

On Monday, AltaGas' stock price experienced a slight decline of C$0.09 during trading hours, bringing the share price to C$38.42. The day's trading volume was 81,385 shares, significantly lower than the average daily volume of 905,367 shares. Over the past year, AltaGas shares have seen a low of C$28.76 and a high of C$38.75. The company's 50-day simple moving average stands at C$35.37, while the 200-day simple moving average is C$34.41. AltaGas Ltd. boasts a market capitalization of C$11.44 billion, with a P/E ratio of 22.27 and a PEG ratio of -4.97. Its beta is recorded at 1.23. Additionally, the company reports a quick ratio of 0.44, a current ratio of 1.03, and a high debt-to-equity ratio of 135.26.

Latest Earnings Results

On March 7th, AltaGas released its latest earnings report, revealing earnings per share (EPS) of C$0.76 for the quarter. The company's net margin was reported at 4.04%, and the return on equity stood at 6.36%. Analysts predict that AltaGas will achieve an EPS of approximately 2.3006093 for the current fiscal year.

Dividend Increase Announcement

The company has also made headlines recently by announcing a quarterly dividend. This dividend will be distributed on March 31st, with shareholders of record set to receive a dividend of $0.315 per share. This indicates an annualized dividend of $1.26 and a yield of 3.28%. This new dividend represents an increase from the previous quarterly dividend of $0.30. The ex-dividend date was on March 17th, and the current dividend payout ratio is 68.98%.

Price Target Updates from Analysts

In recent weeks, various analysts have weighed in on AltaGas’ stock price. Scotiabank raised its price target for AltaGas from C$40.00 to C$42.00 in a report published on March 10th. Similarly, CIBC also increased their target price to C$42.00 while assigning the stock an "outperform" rating as of January 9th. Currently, one equity research analyst has given AltaGas a hold rating, while eight analysts have provided buy ratings. According to MarketBeat.com data, the average rating for the stock is "Moderate Buy," with an average price target of C$39.11.

Company Overview

AltaGas Ltd. Overview

AltaGas Ltd. operates a varied portfolio of energy infrastructure businesses. Its operations are categorized into four segments: Midstream, Power, Utilities, and Corporate. The utility segment handles rate-regulated natural gas distribution assets throughout North America. The Midstream segment focuses on natural gas liquid processing, extraction, transportation, and storage, following the sale of non-core midstream assets in Canada.

Investment Considerations

Investors considering AltaGas should analyze the broader market recommendations as well. Recent insights suggest that while AltaGas carries a Moderate Buy rating, analysts recommend several other stocks that may present better investment opportunities.

AltaGas, Stock, Investment