Altagas Ltd (TSE:ALA) insider Jared Blake Green sold 4,750 shares of Altagas stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of C$21.02, for a total transaction of C$99,845.00.
ALA traded up C$0.05 during trading on Friday, hitting C$21.04. The stock had a trading volume of 1,306,200 shares, compared to its average volume of 955,934. Altagas Ltd has a twelve month low of C$20.27 and a twelve month high of C$30.06.
Altagas (TSE:ALA) last announced its quarterly earnings data on Wednesday, August 1st. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.11 by C$0.02. The company had revenue of C$610.00 million for the quarter, compared to analysts’ expectations of C$627.43 million. Altagas had a negative net margin of 3.60% and a negative return on equity of 5.43%.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 25th will be paid a $0.183 dividend. The ex-dividend date is Wednesday, October 24th. This represents a $2.20 annualized dividend and a yield of 10.44%.
A number of equities analysts have recently commented on the stock. TD Securities cut their target price on shares of Altagas from C$37.00 to C$32.00 and set a “buy” rating on the stock in a report on Tuesday, July 10th. Raymond James lifted their target price on shares of Altagas from C$23.00 to C$24.00 in a report on Thursday, July 5th. CIBC raised shares of Altagas from a “neutral” rating to an “outperform” rating in a report on Friday, June 29th. National Bank Financial dropped their price objective on shares of Altagas from C$29.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 2nd. Finally, Industrial Alliance Securities dropped their price objective on shares of Altagas from C$30.00 to C$29.50 in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of C$27.17.
AltaGas Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.
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