AltaGas (TSE:ALA) Stock Crosses Above 200 Day Moving Average – Time to Sell?

AltaGas Ltd. (TSE:ALA) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$33.85 and traded as high as C$34.75. AltaGas shares last traded at C$34.73, with a volume of 374,757 shares.

Analyst Ratings Changes

Several research analysts recently commented on ALA shares. Scotiabank raised their price objective on shares of AltaGas from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. CIBC increased their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$38.40.

AltaGas Stock Performance

The company’s 50-day moving average price is C$33.89 and its two-hundred day moving average price is C$33.85. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The stock has a market cap of C$10.34 billion, a PE ratio of 20.13, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is currently 68.98%.

Insider Activity

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

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.