Altagas Ltd (ALA) to Issue Dividend Increase – $0.18 Per Share
Altagas Ltd (TSE:ALA) declared a monthly dividend on Monday, December 11th, Zacks reports. Investors of record on Wednesday, December 27th will be given a dividend of 0.183 per share on Monday, January 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date of this dividend is Tuesday, December 26th. This is a positive change from Altagas’s previous monthly dividend of $0.18.
Altagas (ALA) traded down C$0.26 on Tuesday, reaching C$28.95. 422,419 shares of the company’s stock traded hands, compared to its average volume of 586,948. Altagas has a 1 year low of C$26.87 and a 1 year high of C$35.15.
ALA has been the topic of several research reports. Beacon Securities restated a “buy” rating on shares of Altagas in a report on Thursday, September 21st. BMO Capital Markets restated a “market perform” rating and set a C$32.00 price objective on shares of Altagas in a report on Friday, October 20th. CIBC lowered their price objective on shares of Altagas from C$38.00 to C$35.00 in a report on Friday, October 20th. Scotiabank lowered their price objective on shares of Altagas from C$36.00 to C$34.00 and set an “outperform” rating on the stock in a report on Friday, October 20th. Finally, Raymond James Financial lowered their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$33.75.
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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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