AltaGas Ltd. (ALA) to Issue Quarterly Dividend of $0.30 on December 31st

AltaGas Ltd. (TSE:ALA) declared a quarterly dividend on Monday, December 16th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.298 per share on Tuesday, December 31st. This represents a $1.19 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Monday, December 16th.

AltaGas Stock Up 0.3 %

ALA stock opened at C$32.83 on Friday. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The firm has a market cap of C$9.76 billion, a PE ratio of 22.64, a P/E/G ratio of -4.97 and a beta of 1.23. The firm has a 50 day simple moving average of C$34.02 and a 200 day simple moving average of C$32.74. AltaGas has a 12 month low of C$26.87 and a 12 month high of C$35.77.

Wall Street Analyst Weigh In

ALA has been the subject of a number of research analyst reports. ATB Capital set a C$36.00 target price on shares of AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered shares of AltaGas from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. Scotiabank increased their target price on shares of AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. National Bankshares upped their price target on AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets increased their price objective on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$38.10.

Insider Buying and Selling

In related news, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of AltaGas stock in a transaction dated Monday, November 4th. The stock was bought at an average price of C$33.12 per share, for a total transaction of C$251,719.60. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00. Corporate insiders own 0.58% of the company’s stock.

About AltaGas

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.