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

Key Points

• AltaGas shares have recently crossed above their 200-day moving average of C$38.53, reaching a high of C$42.31 during trading.
• Analysts have a generally positive outlook on the stock, with seven rating it as a Buy, one as a Hold, and one as a Sell, leading to an average price target of C$44.33.
• The company announced a quarterly dividend of $0.315 per share, equating to an annualized yield of 3.0% for shareholders of record as of September 16th.

AltaGas Ltd. (TSE:ALA - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$38.53 and traded as high as C$42.31. AltaGas shares last traded at C$42.17, with a volume of 953,278 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on ALA. CIBC 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 note on Friday, May 2nd. Scotiabank boosted their price target on shares of AltaGas from C$45.00 to C$46.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their price target on shares of AltaGas from C$43.00 to C$44.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. ATB Capital boosted their price target on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, National Bankshares boosted their price target on shares of AltaGas from C$44.00 to C$45.00 and gave the stock 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 given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$44.33.

AltaGas Stock Up 0.5%

The stock's fifty day moving average is C$40.15 and its 200 day moving average is C$38.64. 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 market capitalization of C$12.09 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 3.1%. AltaGas's dividend payout ratio is currently 68.98%.

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.