James Harbilas Sells 100,000 Shares of AltaGas Ltd. (TSE:ALA) Stock

AltaGas Ltd. (TSE:ALA) Senior Officer James Harbilas sold 100,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of C$30.45, for a total value of C$3,045,000.00.

James Harbilas also recently made the following trade(s):

• On Monday, May 6th, James Harbilas sold 26,100 shares of AltaGas stock. The stock was sold at an average price of C$30.50, for a total transaction of C$796,050.00.

AltaGas Stock Up 0.6 %

ALA traded up C$0.17 on Thursday, reaching C$30.40. The company’s stock had a trading volume of 851,601 shares, compared to its average volume of 782,163. AltaGas Ltd. has a 1 year low of C$22.57 and a 1 year high of C$30.58. The business’s 50 day moving average is C$29.56 and its 200 day moving average is C$28.24. The company has a debt-to-equity ratio of 125.64, a current ratio of 0.89 and a quick ratio of 0.44. The stock has a market cap of C$8.98 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22.

AltaGas (TSE:ALA) last released its earnings results on Friday, March 8th. The company reported C$0.75 EPS for the quarter, meeting the consensus estimate of C$0.75. The company had revenue of C$3.29 billion during the quarter, compared to analysts’ expectations of C$4.11 billion. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. As a group, research analysts forecast that AltaGas Ltd. will post 2.1549815 EPS for the current fiscal year.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were given a $0.298 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.19 annualized dividend and a dividend yield of 3.92%. This is an increase from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s payout ratio is presently 52.65%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALA. National Bankshares upped their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Scotiabank upped their price objective on AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Jefferies Financial Group set a C$34.00 price target on AltaGas and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, TD Securities boosted their price objective on AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$34.15.

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.