Altagas Ltd (TSE:ALA) insider Jared Blake Green sold 4,750 shares of the company’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of C$21.02, for a total transaction of C$99,845.00.
Altagas stock traded up C$0.05 during trading hours on Friday, reaching C$21.04. 1,306,162 shares of the company’s stock traded hands, compared to its average volume of 955,934. Altagas Ltd has a fifty-two week low of C$20.27 and a fifty-two week high of C$30.06.
Altagas (TSE:ALA) last released its earnings results on Wednesday, August 1st. The company reported C$0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.11 by C$0.02. Altagas had a negative net margin of 3.60% and a negative return on equity of 5.43%. The company had revenue of C$610.00 million for the quarter, compared to the consensus estimate of C$627.43 million.
The firm also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 25th will be given a dividend of $0.183 per share. The ex-dividend date is Wednesday, October 24th. This represents a $2.20 dividend on an annualized basis and a yield of 10.44%.
ALA has been the topic of several research reports. CIBC reduced their price target on shares of Altagas from C$32.00 to C$30.00 in a research report on Tuesday, September 11th. BMO Capital Markets reduced their price target on shares of Altagas from C$27.00 to C$26.00 in a research report on Tuesday, September 11th. Industrial Alliance Securities reduced their price target on shares of Altagas from C$30.00 to C$29.50 in a research report on Thursday, August 2nd. National Bank Financial reduced their price target on shares of Altagas from C$28.00 to C$26.00 and set a “sector perform” rating on the stock in a research report on Friday, September 14th. Finally, Canaccord Genuity reduced their price target on shares of Altagas from C$26.00 to C$24.00 in a research report on Friday, September 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently 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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