AltaGas Ltd. (TSE:ALA) to Issue Quarterly Dividend of $0.32

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 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Monday, March 17th. This is a 5.7% increase from AltaGas’s previous quarterly dividend of $0.30.

AltaGas Stock Down 0.7 %

Shares of ALA opened at C$38.03 on Friday. The company has a 50-day simple moving average of C$34.96 and a 200-day simple moving average of C$34.25. The firm 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. 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 has a 52 week low of C$28.76 and a 52 week high of C$38.61.

AltaGas (TSE:ALA) last announced its quarterly earnings data 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%. On average, equities research analysts expect that AltaGas will post 2.3006093 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Scotiabank upped their price objective on shares of AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC increased their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$39.11.

Insiders Place Their Bets

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, 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 transaction of C$966,420.00. Over the last ninety days, insiders have sold 181,616 shares of company stock valued at $6,859,585. 0.58% of the stock is currently owned by insiders.

About AltaGas

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.