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

by · The Markets Daily

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

AltaGas Stock Down 1.4 %

ALA stock opened at C$33.27 on Friday. AltaGas has a fifty-two week low of C$25.38 and a fifty-two week high of C$35.77. The business’s 50 day moving average price is C$34.08 and its two-hundred day moving average price is C$31.89. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The company has a market capitalization of C$9.89 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA – Get Free Report) last posted 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 return on equity of 5.78% and a net margin of 3.58%. The firm had revenue of C$2.78 billion for the quarter, compared to the consensus estimate of C$2.54 billion. As a group, analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Insider Transactions at AltaGas

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

Wall Street Analysts Forecast Growth

ALA has been the topic of several recent research reports. Scotiabank upped their price target on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets upped their price target on AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. National Bankshares upped their price target on 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 upped their price target on AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. Finally, Jefferies Financial Group upped their price objective on AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$38.10.

Check Out Our Latest Report on ALA

AltaGas Company Profile

(Get Free Report)

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.

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