AltaGas (TSE:ALA) Stock Passes Above 200-Day Moving Average – Should You Sell?

AltaGas Ltd. (TSE:ALA)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$33.55 and traded as high as C$34.97. AltaGas shares last traded at C$34.90, with a volume of 641,354 shares traded.

Wall Street Analyst Weigh In

ALA has been the topic of a number of recent analyst reports. CIBC increased their target price on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Scotiabank increased their target price on AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered AltaGas from an “overweight” rating to a “neutral” rating and increased their target price for the company from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, AltaGas has an average rating of “Moderate Buy” and a consensus price target of C$38.30.

AltaGas Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The firm has a fifty day moving average price of C$33.73 and a 200 day moving average price of C$33.55. The firm has a market cap of C$10.38 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.298 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.19 annualized dividend and a yield of 3.42%. AltaGas’s dividend payout ratio (DPR) is currently 82.07%.

Insider Activity at AltaGas

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction dated Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of C$32.97 per share, with a total value of C$250,549.20. 0.58% of the stock is owned by insiders.

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.