Insider Buying: AltaGas Ltd. (TSE:ALA) Senior Officer Acquires 7,600 Shares of Stock

AltaGas Ltd. (TSE:ALA) Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of C$33.12 per share, with a total value of C$251,719.60.

AltaGas Stock Performance

The company has a market cap of C$9.85 billion, a price-to-earnings ratio of 22.84, a PEG ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. AltaGas Ltd. has a 1 year low of C$26.10 and a 1 year high of C$35.77. The firm’s 50 day moving average price is C$34.07 and its 200-day moving average price is C$32.01.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend is Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 82.07%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James increased their price objective on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Scotiabank boosted their price objective on shares of AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their price target on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. CIBC upped their price target on shares of AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. Finally, National Bankshares increased their price objective on AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$38.10.

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.