AltaGas Ltd. Plans Quarterly Dividend of $0.30 (TSE:ALA)

AltaGas Ltd. (TSE:ALA) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, December 16th.

AltaGas Price Performance

Shares of TSE ALA opened at C$33.27 on Friday. The firm has a market cap of C$9.89 billion, a PE ratio of 22.94, a PEG 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 has a 1-year low of C$25.38 and a 1-year high of C$35.77. The company has a fifty day moving average price of C$34.08 and a 200 day moving average price of C$31.89.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.02. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. The firm had revenue of C$2.78 billion during the quarter, compared to analyst estimates of C$2.54 billion. Research analysts predict that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALA shares. National Bankshares increased their price objective on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. CIBC increased their price objective on shares of AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. BMO Capital Markets increased their price objective on shares of AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. Jefferies Financial Group increased their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada increased their price objective on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$38.10.

Insider Activity

In other AltaGas news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. In other AltaGas news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total transaction of C$101,460.00. In the last ninety days, insiders have sold 33,320 shares of company stock valued at $1,125,051. 0.58% of the stock is owned by company insiders.

About AltaGas

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.