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

AltaGas Ltd. (TSE:ALA - Get Free Report) announced a quarterly dividend on Monday, March 17th, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.315 per share on Monday, March 31st. This represents a $1.26 annualized dividend and a dividend yield of 3.34%. 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 Up 0.1 %

Shares of AltaGas stock traded up C$0.03 during trading on Wednesday, hitting C$37.76. 626,735 shares of the stock traded hands, compared to its average volume of 918,423. AltaGas has a 52-week low of C$28.76 and a 52-week high of C$38.61. The stock's fifty day simple moving average is C$35.12 and its 200 day simple moving average is C$34.31. The firm has a market cap of C$11.24 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA - Get Free Report) last posted its quarterly earnings results 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 analysts predict that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

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Insider Buying and Selling at AltaGas

In other news, Senior Officer Corine Renae Knight Bushfield sold 108,589 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of C$38.10, for a total transaction of C$4,137,240.90. Also, Director Peter James Ledig sold 25,200 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of C$38.35, for a total value of C$966,420.00. Over the last ninety days, insiders sold 290,205 shares of company stock worth $10,996,826. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALA. Scotiabank increased their target price on AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC raised their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$39.11.

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.