Altagas Ltd (ALA) Plans $0.18 Monthly Dividend
Altagas Ltd (TSE:ALA) declared a monthly dividend on Monday, September 11th, Zacks reports. Investors of record on Monday, September 25th will be given a dividend of 0.175 per share on Monday, October 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.65%. The ex-dividend date is Friday, September 22nd.
Shares of Altagas (TSE ALA) opened at 27.46 on Tuesday. The firm’s 50-day moving average is $28.12 and its 200-day moving average is $29.92. The company has a market cap of $4.71 billion and a PE ratio of 42.57. Altagas has a 1-year low of $26.87 and a 1-year high of $35.55.
Altagas (TSE:ALA) last issued its earnings results on Thursday, July 27th. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The firm had revenue of $539 million for the quarter, compared to analyst estimates of $633.11 million. Altagas had a negative return on equity of 0.93% and a net margin of 1.84%. On average, equities analysts forecast that Altagas will post $0.95 earnings per share for the current fiscal year.
Several research firms have commented on ALA. BMO Capital Markets set a C$32.00 price objective on Altagas and gave the stock a “market perform” rating in a research report on Friday, July 28th. Royal Bank Of Canada lowered their price objective on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research report on Friday, July 28th. Finally, Canaccord Genuity lowered their price objective on Altagas from C$33.00 to C$31.00 and set a “hold” rating on the stock in a research report on Tuesday, July 25th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$35.11.
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.
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