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

AltaGas Ltd. (TSE:ALA) announced a quarterly dividend on Tuesday, December 16th, TickerTech Dividends reports. Investors of record on Wednesday, December 31st will be paid a dividend of 0.315 per share on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, December 16th.

AltaGas Stock Performance

Shares of TSE ALA opened at C$41.89 on Tuesday. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. AltaGas has a one year low of C$32.02 and a one year high of C$44.37. The business’s 50-day moving average price is C$42.39 and its two-hundred day moving average price is C$41.16. The company has a market capitalization of C$13.03 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. The firm had revenue of C$2.60 billion for the quarter. Analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of AltaGas from C$44.00 to C$48.00 in a research note on Friday, October 31st. CIBC upped their price objective on shares of AltaGas from C$46.00 to C$47.00 in a report on Friday, October 31st. JPMorgan Chase & Co. raised their target price on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Scotiabank boosted their price target on AltaGas from C$46.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group upped their price target on AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$46.33.

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.