Altagas Ltd (ALA) Announces $0.18 Monthly Dividend

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 7.55%. The ex-dividend date of this dividend is Wednesday, January 24th.

Shares of Altagas (ALA) traded up C$0.36 on Thursday, reaching C$29.09. The company’s stock had a trading volume of 483,335 shares, compared to its average volume of 527,465. Altagas has a one year low of C$26.87 and a one year high of C$34.77. The firm has a market capitalization of $5,080.00, a price-to-earnings ratio of 61.89 and a beta of 0.47.

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

Several analysts have commented on the company. Beacon Securities reissued a “buy” rating on shares of Altagas in a report on Thursday, September 21st. BMO Capital Markets reissued a “market perform” rating and issued a C$32.00 price objective on shares of Altagas in a report on Friday, October 20th. CIBC dropped their price objective on Altagas from C$38.00 to C$35.00 in a report on Friday, October 20th. Raymond James Financial dropped their price objective on Altagas from C$32.00 to C$30.00 and set a “market perform” rating on the stock in a report on Monday, October 23rd. Finally, Scotiabank dropped their price objective on Altagas from C$36.00 to C$34.00 and set an “outperform” rating on the stock in a 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. Altagas presently has a consensus rating of “Hold” and an average price target 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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