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

AltaGas Ltd. (TSE:ALA) Senior Officer Randy Warren Toone sold 3,000 shares of AltaGas stock in a transaction on Monday, September 16th. The stock was 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 transaction 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 transaction of C$597,006.00.

AltaGas Price Performance

The company has a market cap of C$10.50 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of -4.97 and a beta of 1.24. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. AltaGas Ltd. has a 52 week low of C$24.67 and a 52 week high of C$35.49. The company’s 50 day moving average is C$32.92 and its two-hundred day moving average is C$30.99.

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

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be issued a $0.298 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of ∞. AltaGas’s dividend payout ratio (DPR) is 82.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their target price on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their target price on shares of AltaGas from C$33.00 to C$36.00 in a research report on Friday, July 19th. Scotiabank increased their price target on AltaGas from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. ATB Capital increased their price objective on shares of AltaGas from C$35.00 to C$36.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group boosted their target price on shares of AltaGas from C$34.00 to C$37.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AltaGas currently has a consensus rating of “Buy” and an average price target 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.