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

Key Points

• AltaGas Ltd. stock recently crossed above its 200-day moving average, trading at C$41.35 with a recent high of C$41.51.
• Analysts are optimistic about AltaGas's future, with seven out of nine rating the stock as a "Buy" and price targets ranging from C$43.00 to C$48.00.
• The company declared a quarterly dividend of $0.315, representing an annualized dividend of $1.26 and a yield of 3.0%, set to be paid on September 29th.

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$39.07 and traded as high as C$41.51. AltaGas shares last traded at C$41.35, with a volume of 440,880 shares traded.

Wall Street Analysts Forecast Growth

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

AltaGas Stock Down 0.7%

The stock has a market cap of C$12.39 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of -4.97 and a beta of 0.18. 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's 50-day moving average price is C$40.77 and its 200-day moving average price is C$39.15.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 16th will be given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. AltaGas's dividend payout ratio 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.