Altagas Ltd (TSE:ALA) Announces $0.08 Monthly Dividend

Altagas Ltd (TSE:ALA) declared a monthly dividend on Tuesday, September 10th, Zacks reports. Stockholders of record on Wednesday, September 25th will be paid a dividend of 0.08 per share on Tuesday, October 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Tuesday, September 24th.

TSE:ALA traded up C$0.08 during midday trading on Wednesday, reaching C$18.91. 671,705 shares of the stock traded hands, compared to its average volume of 884,810. The stock has a market capitalization of $5.19 billion and a PE ratio of 17.24. Altagas has a 12-month low of C$11.87 and a 12-month high of C$25.03. The company has a debt-to-equity ratio of 108.26, a quick ratio of 0.27 and a current ratio of 0.69. The business has a 50-day moving average of C$19.20 and a two-hundred day moving average of C$18.79.

Altagas (TSE:ALA) last released its quarterly earnings results on Thursday, August 1st. The company reported C($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.10) by C$0.08. The firm had revenue of C$1.17 billion during the quarter, compared to analysts’ expectations of C$921.45 million. Research analysts anticipate that Altagas will post 1.18 earnings per share for the current year.



Several research analysts recently weighed in on ALA shares. Raymond James restated a “market perform” rating and set a C$19.00 target price on shares of Altagas in a research note on Tuesday, July 23rd. National Bank Financial increased their price target on Altagas from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. Industrial Alliance Securities raised their price target on Altagas from C$21.50 to C$23.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. CIBC boosted their price target on Altagas from C$20.00 to C$21.00 in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price target on Altagas from C$20.00 to C$22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of C$21.09.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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Dividend History for Altagas (TSE:ALA)

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