AltaGas Ltd. (TSE:ALA) Announces $0.32 Quarterly Dividend

AltaGas Ltd. (TSE:ALA - Get Free Report) declared a quarterly dividend on Monday, June 16th, TickerTech Dividends reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.315 per share on Monday, June 30th. This represents a $1.26 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, June 16th.

AltaGas Trading Down 0.2%

Shares of AltaGas stock traded down C$0.06 on Friday, hitting C$38.74. The stock had a trading volume of 523,087 shares, compared to its average volume of 870,706. 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 has a one year low of C$29.67 and a one year high of C$40.98. The stock has a market cap of C$11.53 billion, a price-to-earnings ratio of 22.45, a PEG ratio of -4.97 and a beta of 1.23. The stock's 50-day simple moving average is C$38.65 and its two-hundred day simple moving average is C$36.36.

Insider Transactions at AltaGas

In related news, Director Derek Watson Evans acquired 19,239 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average cost of C$38.98 per share, for a total transaction of C$749,936.22. Also, Senior Officer Donald Mark Jenkins sold 1,800 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of C$39.02, for a total value of C$70,236.00. Insiders sold a total of 122,361 shares of company stock valued at $4,794,370 in the last quarter. 0.58% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALA. Scotiabank raised their target price on shares of AltaGas from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. CIBC lifted their price target on shares of AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Jefferies Financial Group lifted their price target on shares of AltaGas from C$38.00 to C$40.00 in a report on Wednesday, April 30th. National Bankshares lifted their price target on shares of AltaGas from C$41.00 to C$44.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Royal Bank of Canada lifted their price target on shares of AltaGas from C$40.00 to C$43.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, AltaGas currently has an average rating of "Moderate Buy" and an average target price of C$41.33.

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.