AltaGas Ltd. (ALA) to Issue Monthly Dividend of $0.27 on June 30th

AltaGas Ltd. (TSE:ALA – Get Rating) declared a monthly dividend on Thursday, April 28th, Zacks reports. Shareholders of record on Thursday, June 16th will be given a dividend of 0.265 per share on Thursday, June 30th. This represents a $3.18 dividend on an annualized basis and a yield of 10.82%. The ex-dividend date is Wednesday, June 15th. This is a positive change from AltaGas’s previous monthly dividend of $0.08.

TSE ALA opened at C$29.38 on Friday. The stock has a market cap of C$8.23 billion and a PE ratio of 35.83. AltaGas has a fifty-two week low of C$22.90 and a fifty-two week high of C$31.16. The business has a 50 day moving average price of C$28.82 and a two-hundred day moving average price of C$27.08. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 114.56.

AltaGas (TSE:ALA – Get Rating) last released its earnings results on Friday, March 4th. The company reported C$0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.40 by C($0.02). The firm had revenue of C$3.14 billion during the quarter, compared to the consensus estimate of C$1.53 billion. Sell-side analysts anticipate that AltaGas will post 1.98 EPS for the current fiscal year.

Several equities research analysts recently issued reports on the company. Credit Suisse Group upped their price target on AltaGas to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 11th. TD Securities increased their target price on AltaGas from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research report on Friday. National Bankshares increased their target price on AltaGas from C$31.00 to C$32.00 in a research report on Friday. Scotiabank increased their target price on AltaGas from C$31.00 to C$33.00 in a research report on Tuesday, April 19th. Finally, CIBC increased their target price on AltaGas from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, AltaGas presently has an average rating of “Buy” and an average target price of C$32.11.

AltaGas Company Profile (Get Rating)

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 rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.7 million customers.

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