AltaGas (TSE:ALA) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• AltaGas Ltd.'s stock price recently surpassed its 200-day moving average, reaching C$43.19 and closing at C$42.98 with a volume of 720,001 shares traded.
• Analysts are optimistic about AltaGas, with the majority giving it a Buy rating and several increasing their price targets above C$45, reflecting a consensus target price of C$44.33.
• The company declared a quarterly dividend of $0.315 per share, which will be paid on September 29th, yielding an annualized dividend of $1.26 at a 2.9% yield.

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$39.54 and traded as high as C$43.19. AltaGas shares last traded at C$42.98, with a volume of 720,001 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALA shares. Jefferies Financial Group lifted their price target on AltaGas from C$40.00 to C$46.00 in a report on Wednesday, July 23rd. TD Securities increased their price target on shares of AltaGas from C$45.00 to C$48.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Scotiabank raised their price target on shares of AltaGas from C$45.00 to C$46.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Royal Bank Of Canada upped their price objective on AltaGas from C$43.00 to C$44.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, ATB Capital lifted their target price on AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, AltaGas has an average rating of "Moderate Buy" and a consensus target price of C$44.33.

AltaGas Stock Performance

The stock has a market cap of C$12.86 billion, a P/E ratio of 16.53, a PEG ratio of -4.97 and a beta of 0.18. The stock has a fifty day simple moving average of C$41.29 and a 200-day simple moving average of C$39.54. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 16th. AltaGas's dividend payout ratio (DPR) is currently 47.12%.

About AltaGas

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.

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