Altagas Ltd (TSE:ALA) to Issue $0.08 Monthly Dividend

Altagas Ltd (TSE:ALA) declared a monthly dividend on Tuesday, September 10th, Zacks reports. Shareholders of record on Wednesday, September 25th will be paid a dividend of 0.08 per share on Tuesday, October 15th. This represents a $0.96 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Tuesday, September 24th.

ALA traded up C$0.08 during trading on Wednesday, hitting C$18.91. 671,705 shares of the company’s stock were exchanged, compared to its average volume of 883,802. Altagas has a 1 year low of C$11.87 and a 1 year high of C$25.03. The stock has a 50 day moving average price of C$19.20 and a 200 day moving average price of C$18.79. The firm has a market cap of $5.19 billion and a P/E ratio of 17.24. The company has a current ratio of 0.69, a quick ratio of 0.27 and a debt-to-equity ratio of 108.26.

Altagas (TSE:ALA) last issued its earnings results on Thursday, August 1st. The company reported C($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of C($0.10) by C$0.08. The business had revenue of C$1.17 billion during the quarter, compared to analysts’ expectations of C$921.45 million. Analysts forecast that Altagas will post 1.18 earnings per share for the current fiscal year.

ALA has been the topic of several research reports. Raymond James reissued a “market perform” rating and issued a C$19.00 price objective on shares of Altagas in a research report on Tuesday, July 23rd. National Bank Financial boosted their price objective on Altagas from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on Altagas from C$18.00 to C$19.00 in a research report on Friday, August 30th. BMO Capital Markets upgraded Altagas from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$21.00 to C$22.00 in a research note on Monday. Finally, Royal Bank of Canada raised their target price on Altagas from C$20.00 to C$22.00 and gave the company a “sector perform” rating in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$21.09.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

Read More: What does an outperform rating mean?

Dividend History for Altagas (TSE:ALA)

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