AltaGas Canada Inc to Issue Quarterly Dividend of $0.26 (TSE:ACI)

AltaGas Canada Inc (TSE:ACI) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.26 per share on Monday, September 30th. This represents a $1.04 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Thursday, August 29th.

TSE:ACI opened at C$25.15 on Wednesday. The company has a fifty day moving average of C$25.81. The company has a debt-to-equity ratio of 104.23, a quick ratio of 0.57 and a current ratio of 0.72. AltaGas Canada has a 12-month low of C$14.06 and a 12-month high of C$27.60. The stock has a market capitalization of $749.10 million and a price-to-earnings ratio of 16.99.

AltaGas Canada (TSE:ACI) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.01). The business had revenue of C$61.30 million during the quarter, compared to the consensus estimate of C$61.65 million. Equities analysts anticipate that AltaGas Canada will post 1.5300001 earnings per share for the current fiscal year.

Several brokerages recently weighed in on ACI. Industrial Alliance Securities raised shares of AltaGas Canada from a “hold” rating to a “buy” rating and raised their target price for the company from C$18.00 to C$24.00 in a report on Monday, June 3rd. Royal Bank of Canada increased their price objective on shares of AltaGas Canada from C$32.00 to C$33.00 in a research report on Wednesday, August 21st. National Bank Financial lifted their price objective on shares of AltaGas Canada from C$20.00 to C$25.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. CIBC boosted their target price on shares of AltaGas Canada from C$23.00 to C$31.00 in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on AltaGas Canada from C$19.00 to C$22.00 in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$26.71.

AltaGas Canada Company Profile

AltaGas Canada Inc, a natural gas distribution utility company, provides rate-regulated utility services in northern British Columbia. It operates in Renewable Energy and Utilities segments. The company also holds interest in the Bear Mountain Wind Park, a 102 MW generating wind facility consisting of 34 turbines, a substation, and transmission and collector lines; and the northwest hydro facilities located in Tahltan first nation territory of Vancouver, British Columbia.

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