AltaGas Ltd. (TSE:ALA) Raises Dividend to $0.08 Per Share

AltaGas Ltd. (TSE:ALA) declared a monthly dividend on Friday, July 23rd, TickerTech reports. Stockholders of record on Monday, August 16th will be paid a dividend of 0.0833 per share on Monday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, July 23rd. This is a positive change from AltaGas’s previous monthly dividend of $0.08.

Shares of ALA stock opened at C$26.02 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 105.29. AltaGas has a one year low of C$15.53 and a one year high of C$26.66. The stock’s 50-day moving average is C$25.21. The company has a market capitalization of C$7.28 billion and a PE ratio of 20.31.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Thursday, April 29th. The company reported C$1.29 EPS for the quarter, topping the consensus estimate of C$0.93 by C$0.36. The company had revenue of C$3.09 billion for the quarter, compared to the consensus estimate of C$1.80 billion. On average, equities research analysts expect that AltaGas will post 1.78 earnings per share for the current fiscal year.

In related news, Director Deborah Susan Stein sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 22nd. The shares were sold at an average price of C$26.00, for a total transaction of C$26,000.00. Following the completion of the sale, the director now directly owns 45,100 shares in the company, valued at C$1,172,600.

ALA has been the topic of several research reports. CSFB increased their price objective on shares of AltaGas from C$27.00 to C$29.00 in a research note on Thursday, June 17th. JPMorgan Chase & Co. increased their price objective on shares of AltaGas from C$23.00 to C$24.00 and gave the stock a “na” rating in a research note on Wednesday, May 19th. National Bank Financial increased their price objective on shares of AltaGas to C$26.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. BMO Capital Markets increased their price objective on shares of AltaGas from C$24.00 to C$27.00 in a research note on Friday, April 30th. Finally, CIBC raised their price target on shares of AltaGas from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, June 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. AltaGas currently has an average rating of “Buy” and a consensus target price of C$27.20.

AltaGas Company Profile

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through two segments, Utilities and Midstream. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and two regulated natural gas storage utilities in the United States serving approximately 1.7 million customers.

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Dividend History for AltaGas (TSE:ALA)

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