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 firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of C$30.45, for a total transaction 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 %

TSE:ALA traded up C$0.17 during mid-day trading on Thursday, hitting C$30.40. 851,601 shares of the company’s stock traded hands, compared to its average volume of 782,163. The company has a fifty day moving average of C$29.56 and a 200 day moving average of C$28.24. The company has a debt-to-equity ratio of 125.64, a quick ratio of 0.44 and a current ratio of 0.89. AltaGas Ltd. has a twelve month low of C$22.57 and a twelve month high of C$30.58. The company has a market capitalization of C$8.98 billion, a P/E ratio of 13.41, a P/E/G ratio of -4.97 and a beta of 1.22.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Friday, March 8th. The company reported C$0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.75. The firm had revenue of C$3.29 billion for the quarter, compared to the consensus estimate of C$4.11 billion. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. On average, analysts forecast that AltaGas Ltd. will post 2.1549815 EPS for the current year.

AltaGas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a dividend of $0.298 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.19 dividend on an annualized basis and a yield of 3.92%. This is a boost from AltaGas’s previous quarterly dividend of $0.28. AltaGas’s payout ratio is currently 52.65%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALA. National Bankshares upped their price objective on AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Jefferies Financial Group set a C$34.00 price target on shares of AltaGas and gave the stock a “buy” rating in a research note on Tuesday, February 27th. TD Securities increased their target price 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. Royal Bank of Canada raised their price objective on AltaGas from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Scotiabank raised their price target on AltaGas from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AltaGas currently has an average 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.