AltaGas (TSE:ALA) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

AltaGas Ltd. (TSE:ALA) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$41.82 and traded as high as C$43.44. AltaGas shares last traded at C$43.14, with a volume of 852,830 shares traded.

Analysts Set New Price Targets

ALA has been the subject of a number of research reports. ATB Capital lifted their target price on AltaGas from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research note on Tuesday, December 23rd. Scotiabank boosted their price objective on AltaGas from C$48.00 to C$50.00 in a research report on Tuesday, December 16th. Jefferies Financial Group upped their price objective on AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada raised their target price on AltaGas from C$44.00 to C$48.00 in a research note on Friday, October 31st. Finally, National Bankshares boosted their price target on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AltaGas currently has a consensus rating of “Moderate Buy” and an average price target of C$48.11.

AltaGas Trading Up 1.3%

The firm has a 50-day moving average of C$41.64 and a 200 day moving average of C$41.82. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The stock has a market capitalization of C$13.42 billion, a price-to-earnings ratio of 17.33, a PEG ratio of -4.97 and a beta of 0.37.

AltaGas (TSE:ALA) last released its quarterly earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share (EPS) for the quarter. The business had revenue of C$2.60 billion during the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, equities analysts predict that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.26 annualized dividend and a yield of 2.9%. AltaGas’s dividend payout ratio (DPR) is presently 49.90%.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage. Natural gas is sold and purchased for both commercial and industrial users.