AltaGas Ltd. (ALA) To Go Ex-Dividend on March 16th

AltaGas Ltd. (TSE:ALA) declared a quarterly dividend on Monday, March 16th, TickerTech Dividends reports. Investors of record on Tuesday, March 31st will be paid a dividend of 0.334 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, March 16th. This is a 6.0% increase from AltaGas’s previous quarterly dividend of $0.32.

AltaGas Stock Up 1.5%

TSE ALA traded up C$0.73 during mid-day trading on Friday, hitting C$48.44. The company’s stock had a trading volume of 894,096 shares, compared to its average volume of 930,675. The firm has a market capitalization of C$15.07 billion, a price-to-earnings ratio of 19.45, a PEG ratio of -4.97 and a beta of 0.49. The company’s 50 day simple moving average is C$43.53 and its 200 day simple moving average is C$42.62. The company has a current ratio of 0.82, a quick ratio of 0.44 and a debt-to-equity ratio of 118.25. AltaGas has a twelve month low of C$35.33 and a twelve month high of C$48.83.

AltaGas (TSE:ALA) last released its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. The firm had revenue of C$3.29 billion for the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. Analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALA. Canadian Imperial Bank of Commerce upped their target price on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. National Bank Financial upped their price target on AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Jefferies Financial Group increased their price target on AltaGas from C$49.00 to C$53.00 in a research report on Monday, March 9th. JPMorgan Chase & Co. lifted their price objective on shares of AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada upped their target price on shares of AltaGas from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, AltaGas has a consensus rating of “Moderate Buy” and an average price target of C$49.89.

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. Natural gas is sold and purchased for both commercial and industrial users.