AltaGas Ltd. (TSE:ALA) Declares $0.33 Quarterly Dividend

AltaGas Ltd. (TSE:ALA) announced a quarterly dividend on Wednesday, September 16th. Investors of record on Tuesday, September 29th will be given a dividend of 0.334 per share on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th.

AltaGas Stock Performance

Shares of ALA stock opened at C$52.14 on Wednesday. AltaGas has a 12 month low of C$39.45 and a 12 month high of C$57.52. The company has a debt-to-equity ratio of 112.99, a current ratio of 0.86 and a quick ratio of 0.43. The firm has a market capitalization of C$16.27 billion, a P/E ratio of 26.33, a P/E/G ratio of -4.97 and a beta of 0.28. The company’s fifty day moving average price is C$53.92 and its two-hundred day moving average price is C$51.99.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. The company had revenue of C$3.80 billion during the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. On average, research analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Scotiabank boosted their price target on AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada raised their price objective on AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. BMO Capital Markets lifted their price objective on AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. ATB Cormark Capital Markets upped their target price on AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, National Bank Financial increased their target price on AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$56.56.

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. Natural gas is sold and purchased for both commercial and industrial users.