AltaGas Canada Inc (TSE:ACI) Announces Quarterly Dividend of $0.26

Posted by on Nov 27th, 2019

AltaGas Canada Inc (TSE:ACI) declared a quarterly dividend on Thursday, November 28th, TickerTech reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.26 per share on Tuesday, December 31st. This represents a $1.04 annualized dividend and a yield of 3.10%. The ex-dividend date is Thursday, November 28th.

Shares of TSE ACI traded down C$0.08 during mid-day trading on Wednesday, reaching C$33.59. 32,862 shares of the company’s stock were exchanged, compared to its average volume of 77,352. The firm has a market cap of $1.00 billion and a price-to-earnings ratio of 21.55. AltaGas Canada has a 52 week low of C$14.26 and a 52 week high of C$34.42. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 107.34. The stock has a 50-day moving average price of C$31.05.

AltaGas Canada (TSE:ACI) last released its earnings results on Thursday, November 7th. The company reported C$0.08 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.03 by C$0.05. The business had revenue of C$45.20 million for the quarter, compared to the consensus estimate of C$46.30 million. On average, analysts expect that AltaGas Canada will post 1.52 earnings per share for the current fiscal year.

A number of research analysts have weighed in on ACI shares. Royal Bank of Canada lowered AltaGas Canada from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$33.00 to C$33.50 in a report on Tuesday, October 22nd. TD Securities lifted their target price on AltaGas Canada from C$19.50 to C$25.00 and gave the company a “hold” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on AltaGas Canada from C$23.00 to C$33.50 in a report on Tuesday, October 22nd. National Bank Financial boosted their price objective on AltaGas Canada from C$20.00 to C$25.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. Finally, CIBC lowered AltaGas Canada from an “outperform” rating to a “neutral” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of C$28.79.

AltaGas Canada Company Profile

AltaGas Canada Inc, a natural gas distribution utility company, provides rate-regulated utility services in northern British Columbia. It operates in Renewable Energy and Utilities segments. The company also holds interest in the Bear Mountain Wind Park, a 102 MW generating wind facility consisting of 34 turbines, a substation, and transmission and collector lines; and the northwest hydro facilities located in Tahltan first nation territory of Vancouver, British Columbia.

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