AltaGas Ltd. (TSE:ALA) Raises Dividend to $0.32 Per Share

AltaGas Ltd. (TSE:ALA) declared a quarterly dividend on Monday, March 17th, TickerTech Dividends reports. Investors of record on Monday, March 31st will be paid a dividend of 0.315 per share on Monday, March 31st. This represents a $1.26 dividend on an annualized basis 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 Stock Down 0.7 %

Shares of TSE ALA opened at C$38.03 on Friday. AltaGas has a 52 week low of C$28.76 and a 52 week high of C$38.61. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The stock’s fifty day moving average is C$34.96 and its 200 day moving average is C$34.25. The stock has a market capitalization of C$11.32 billion, a P/E ratio of 22.04, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last released its earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Sell-side analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on ALA. Scotiabank lifted their target price on AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$39.11.

Insider Buying and Selling

In other AltaGas news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of C$38.00, for a total value of C$5,474,432.00. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total value of C$418,732.80. Insiders have sold a total of 181,616 shares of company stock valued at $6,859,585 over the last ninety days. 0.58% of the stock is owned by company insiders.

AltaGas Company Profile

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.