Altagas Ltd (ALA) to Issue Monthly Dividend of $0.18 on October 16th

Altagas Ltd (TSE:ALA) announced a monthly dividend on Monday, September 11th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 7.58%. The ex-dividend date is Friday, September 22nd.

Shares of Altagas (TSE:ALA) opened at 27.72 on Friday. The stock has a market cap of $4.76 billion and a PE ratio of 42.98. The stock has a 50 day moving average of $27.92 and a 200 day moving average of $29.82. Altagas has a 1-year low of $26.87 and a 1-year high of $35.55.

Altagas (TSE:ALA) last issued its quarterly earnings results on Thursday, July 27th. The company reported C$0.17 EPS for the quarter, topping analysts’ consensus estimates of C$0.16 by C$0.01. The business had revenue of C$539.00 million during the quarter, compared to the consensus estimate of C$633.11 million. Altagas had a net margin of 1.84% and a negative return on equity of 0.93%. Equities research analysts forecast that Altagas will post $0.95 EPS for the current year.

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A number of brokerages have recently commented on ALA. Canaccord Genuity lowered their price target on shares of Altagas from C$33.00 to C$31.00 and set a “hold” rating for the company in a report on Tuesday, July 25th. Royal Bank Of Canada lowered their price target on shares of Altagas from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a report on Friday, July 28th. Finally, BMO Capital Markets set a C$32.00 price target on shares of Altagas and gave the stock a “market perform” rating in a report on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Altagas has an average rating of “Buy” and an average target price of C$35.11.

About Altagas

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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