AltaGas Ltd. (TSE:ALA) Declares Quarterly Dividend of $0.30

AltaGas Ltd. (TSE:ALA - Get Free Report) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.298 per share on Tuesday, December 31st. This represents a $1.19 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, December 16th.

AltaGas Stock Up 1.3 %

AltaGas stock traded up C$0.44 during trading on Friday, reaching C$33.71. 1,143,401 shares of the company's stock were exchanged, compared to its average volume of 894,376. The company's 50-day moving average is C$34.08 and its two-hundred day moving average is C$31.89. The firm has a market cap of C$10.03 billion, a price-to-earnings ratio of 23.17, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a 52-week low of C$26.10 and a 52-week high of C$35.77. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. On average, analysts predict that AltaGas will post 2.3006093 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ALA. CIBC lifted their price target on shares of AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. Jefferies Financial Group increased their price target on AltaGas from C$37.00 to C$39.00 and gave the company a "buy" rating in a report on Monday, September 30th. Scotiabank upped their target price on AltaGas from C$38.00 to C$39.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Raymond James increased their target price on AltaGas from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, National Bankshares lifted their price target on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an "outperform" rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$38.10.

Insider Buying and Selling at AltaGas

In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$35.32, for a total transaction of C$105,960.00. In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00. Also, Director Aaron Bishop sold 19,820 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. Insiders sold a total of 33,320 shares of company stock worth $1,125,051 over the last 90 days. Insiders own 0.58% of the company's stock.

About AltaGas

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 franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.