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

Key Points

• AltaGas Ltd. shares have recently risen above their 200-day moving average, trading at C$43.44, while analysts have set new price targets between C$43.00 and C$48.00.
• The company announced a quarterly dividend of $0.315, reflecting an annualized dividend yield of 2.9% and a dividend payout ratio of 47.12%.
• Overall, AltaGas has received ratings from investment analysts that indicate a Moderate Buy, with six analysts giving a Buy rating and only one a Sell rating.

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$39.78 and traded as high as C$43.81. AltaGas shares last traded at C$43.44, with a volume of 590,833 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALA. TD Securities increased their price target on 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 increased their price target on AltaGas from C$45.00 to C$46.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. National Bankshares increased their price target on AltaGas from C$44.00 to C$45.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. ATB Capital increased their price target 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. Finally, Jefferies Financial Group raised their target price on AltaGas from C$40.00 to C$46.00 in a research report on Wednesday, July 23rd. Six 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$44.33.

AltaGas Stock Performance

The company has a 50-day moving average price of C$41.66 and a two-hundred day moving average price of C$39.78. 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 has a market capitalization of C$13.00 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of -4.97 and a beta of 0.18.

AltaGas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were paid a $0.315 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.26 annualized dividend and a dividend yield of 2.9%. 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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