AltaGas Ltd. (TSE:ALA) to Issue $0.30 Quarterly Dividend

AltaGas Ltd. (TSE:ALA) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.298 per share on Tuesday, December 31st. This represents a $1.19 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, December 16th.

AltaGas Stock Down 1.4 %

Shares of ALA opened at C$33.27 on Friday. AltaGas has a 12 month low of C$25.38 and a 12 month high of C$35.77. The firm’s 50 day moving average is C$34.08 and its 200-day moving average is C$31.89. The stock has a market capitalization of C$9.89 billion, a PE ratio of 22.94, a P/E/G ratio of -4.97 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share (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 analyst estimates of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. Equities research analysts forecast that AltaGas will post 2.3006093 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ALA shares. BMO Capital Markets increased their price target on shares of AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. National Bankshares increased their price target on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Royal Bank of Canada raised their target price on shares of AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group raised their target price on shares of AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Scotiabank raised their target price on shares of AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AltaGas currently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.10.

Insider Transactions at AltaGas

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of AltaGas stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total transaction of C$252,075.00. In related news, Senior Officer Randy Warren Toone sold 3,000 shares of AltaGas stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total transaction of C$105,960.00. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of AltaGas stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. Over the last 90 days, insiders have sold 33,320 shares of company stock worth $1,125,051. Company insiders own 0.58% of the company’s stock.

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.