AltaGas (TSE:ALA) Share Price Crosses Above Two Hundred 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) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

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

AltaGas Trading Up 0.8%

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 company has a 50-day simple moving average of C$40.84 and a 200 day simple moving average of C$39.26. The firm has a market cap of C$12.49 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of -4.97 and a beta of 0.18.

AltaGas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 16th will be paid 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%.

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.