AltaGas (TSE:ALA) Stock Passes Above 200 Day Moving Average Following Insider Selling

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday following insider buying activity. The stock has a two hundred day moving average of C$35.66 and traded as high as C$38.09. AltaGas shares last traded at C$37.46, with a volume of 1,103,322 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. Jefferies Financial Group increased their price objective on shares of AltaGas from C$38.00 to C$40.00 in a research note on Wednesday, April 30th. National Bankshares increased their price objective on shares of AltaGas from C$41.00 to C$44.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Scotiabank raised their target price on shares of AltaGas from C$42.00 to C$45.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets raised their target price on shares of AltaGas from C$40.00 to C$43.00 in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$41.33.

AltaGas Stock Performance

The stock has a market capitalization of C$11.09 billion, a P/E ratio of 21.60, a PEG ratio of -4.97 and a beta of 1.23. 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 company's fifty day simple moving average is C$38.69 and its two-hundred day simple moving average is C$35.74.

AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, equities analysts forecast that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a dividend of $0.315 per share. The ex-dividend date was Monday, March 17th. This is a boost from AltaGas's previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 3.38%. AltaGas's dividend payout ratio (DPR) is currently 68.98%.

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.