AltaGas Ltd. (TSE:ALA) to Issue Dividend Increase – $0.32 Per Share

AltaGas Ltd. (TSE:ALA) declared a quarterly dividend on Monday, March 17th, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.315 per share on Monday, March 31st. This represents a $1.26 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, March 17th. This is a 5.7% increase from AltaGas’s previous quarterly dividend of $0.30.

AltaGas Price Performance

TSE ALA opened at C$38.03 on Friday. The stock has a market capitalization of C$11.32 billion, a P/E ratio of 22.04, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a 1 year low of C$28.76 and a 1 year high of C$38.61. The business’s fifty day moving average is C$34.96 and its two-hundred day moving average is C$34.25. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas (TSE:ALA) last announced its earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. On average, research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of C$33.90, for a total transaction of C$418,732.80. Over the last three months, insiders sold 181,616 shares of company stock worth $6,859,585. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ALA shares. Scotiabank boosted their target price on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. CIBC boosted their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$39.11.

AltaGas Company Profile

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.