AltaGas Ltd. (TSE:ALA) Raises Dividend to $0.32 Per Share

AltaGas Ltd. (TSE:ALA) declared a quarterly dividend on Monday, March 17th, TickerTech Dividends reports. Stockholders of record on Monday, March 31st will be paid 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

ALA opened at C$38.03 on Friday. The firm has a market cap of C$11.32 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a fifty-two week low of C$28.76 and a fifty-two week high of C$38.61. The company’s 50-day moving average price is C$34.96 and its 200 day moving average price is C$34.25. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

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

Insider Buying and Selling

In other AltaGas news, Director Peter James Ledig sold 25,200 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total value of C$966,420.00. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction that occurred 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. In the last 90 days, insiders sold 181,616 shares of company stock valued at $6,859,585. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALA. Scotiabank raised their price objective on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. CIBC raised their price objective 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 research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.