AltaGas Ltd. (TSE:ALA) Plans Quarterly Dividend of $0.32

AltaGas Ltd. (TSE:ALA) announced a quarterly dividend on Monday, March 17th, TickerTech Dividends reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.315 per share on Monday, March 31st. This represents a $1.26 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, March 17th. This is a 5.7% increase from AltaGas’s previous quarterly dividend of $0.30.

AltaGas Trading Down 0.7 %

TSE ALA opened at C$38.03 on Friday. The company has a market cap of C$11.32 billion, a PE ratio of 22.04, a PEG ratio of -4.97 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas has a 12 month low of C$28.76 and a 12 month high of C$38.61. The stock has a 50 day moving average of C$34.96 and a 200-day moving average of C$34.25.

AltaGas (TSE:ALA) last released its quarterly earnings data on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. On average, equities research analysts anticipate that AltaGas will post 2.3006093 EPS for the current fiscal year.

Insiders Place Their Bets

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Director Peter James Ledig sold 25,200 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of C$38.35, for a total value of C$966,420.00. Insiders have sold 181,616 shares of company stock worth $6,859,585 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALA shares. CIBC increased their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Scotiabank raised their price target on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$39.11.

About AltaGas

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.