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

AltaGas Ltd. (TSE:ALA - Get Free Report) declared a quarterly dividend on Monday, June 16th, TickerTech Dividends reports. Investors 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 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Monday, June 16th.

AltaGas Stock Up 0.8%

TSE:ALA traded up C$0.31 during mid-day trading on Tuesday, hitting C$38.68. 425,200 shares of the company's stock were exchanged, compared to its average volume of 862,904. The company has a market cap of C$11.51 billion, a PE ratio of 22.42, 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 current ratio of 1.03 and a quick ratio of 0.44. AltaGas has a one year low of C$29.67 and a one year high of C$40.98. The business has a fifty day moving average price of C$38.68 and a 200 day moving average price of C$36.40.

Insider Activity

In related news, Senior Officer Donald Mark Jenkins sold 1,800 shares of AltaGas 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. Also, Senior Officer James Harbilas sold 15,200 shares of AltaGas stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$38.40, for a total transaction of C$583,680.00. In the last quarter, insiders sold 122,361 shares of company stock worth $4,794,370. Insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

ALA has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on shares of AltaGas from C$40.00 to C$43.00 in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on AltaGas from C$39.00 to C$41.00 in a research report on Monday, April 21st. Scotiabank upped their price target on AltaGas from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Veritas upgraded shares of AltaGas to a "strong sell" rating in a research report on Friday, May 2nd. Finally, CIBC boosted their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.