Altagas Ltd Declares Monthly Dividend of $0.18 (ALA)

Altagas Ltd (TSE:ALA) announced a monthly dividend on Wednesday, January 10th, Zacks reports. Shareholders of record on Thursday, January 25th will be paid a dividend of 0.183 per share on Thursday, February 15th. This represents a $2.20 annualized dividend and a yield of 7.54%. The ex-dividend date of this dividend is Wednesday, January 24th.

Shares of Altagas (ALA) opened at C$29.12 on Friday. Altagas has a 52 week low of C$26.87 and a 52 week high of C$33.51. The stock has a market cap of $5,080.00, a price-to-earnings ratio of 61.96 and a beta of 0.47.

Altagas (TSE:ALA) last issued its quarterly earnings results on Thursday, October 19th. The company reported C$0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.17 by C$0.11. Altagas had a net margin of 7.04% and a return on equity of 2.07%.

In related news, insider Peter Lauren Karl sold 2,300 shares of Altagas stock in a transaction dated Thursday, November 23rd. The shares were sold at an average price of C$29.66, for a total transaction of C$68,218.00. Also, Director David Wallace Cornhill sold 2,000 shares of Altagas stock in a transaction dated Monday, October 30th. The stock was sold at an average price of C$29.20, for a total transaction of C$58,400.00. Insiders have sold a total of 8,300 shares of company stock valued at $242,658 in the last ninety days.

A number of brokerages have recently commented on ALA. Raymond James Financial decreased their price objective on shares of Altagas from C$32.00 to C$30.00 and set a “market perform” rating for the company in a research report on Monday, October 23rd. Beacon Securities reissued a “buy” rating on shares of Altagas in a research report on Thursday, September 21st. Scotiabank decreased their price objective on shares of Altagas from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research report on Friday, October 20th. CIBC decreased their price objective on shares of Altagas from C$38.00 to C$35.00 in a research report on Friday, October 20th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$32.00 price objective on shares of Altagas in a research report on Friday, October 20th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$33.29.

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Altagas Company Profile

AltaGas Ltd is a Canada-based energy infrastructure company. The Company operates through three segments: Gas, Power and Utilities. The Gas segment transacts approximately two billion cubic feet per day (Bcf/d) of natural gas and includes natural gas gathering and processing, natural gas liquids extraction and separation, transmission, storage and natural gas marketing, as well as its interest in Petrogas Energy Corp.

Dividend History for Altagas (TSE:ALA)

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