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

AltaGas Ltd. (TSE:ALA) announced a quarterly dividend on Monday, December 16th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st 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 3.63%. The ex-dividend date of this dividend is Monday, December 16th.

AltaGas Trading Up 0.3 %

Shares of ALA opened at C$32.83 on Friday. The business’s fifty day moving average is C$34.02 and its 200-day moving average is C$32.74. The firm has a market cap of C$9.76 billion, a price-to-earnings ratio of 22.64, a PEG ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. AltaGas has a 52-week low of C$26.87 and a 52-week high of C$35.77.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and increased their price target for the company from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price target on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. ATB Capital set a C$36.00 price objective on AltaGas and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Scotiabank raised their target price 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. Finally, Jefferies Financial Group upped their price target on AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$38.10.

Insider Transactions at AltaGas

In related news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the company’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of C$32.97 per share, for a total transaction of C$250,549.20. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’s stock in a transaction that occurred 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. 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.