AltaGas (TSE:ALA) Stock Crosses Above 200-Day Moving Average - What's Next?

AltaGas Ltd. (TSE:ALA - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$37.64 and traded as high as C$41.27. AltaGas shares last traded at C$40.99, with a volume of 479,596 shares.

Wall Street Analysts Forecast Growth

ALA has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on AltaGas from C$40.00 to C$46.00 in a report on Wednesday, July 23rd. CIBC lifted their price objective on AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. BMO Capital Markets lifted their price objective on AltaGas from C$40.00 to C$43.00 in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price objective on AltaGas from C$39.00 to C$41.00 in a report on Monday, April 21st. Finally, Royal Bank Of Canada raised their target price on AltaGas from C$40.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$42.89.

AltaGas Stock Up 0.9%

The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The company's fifty day simple moving average is C$39.12 and its 200 day simple moving average is C$37.79. The firm has a market capitalization of C$12.29 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 16th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.1%. AltaGas's dividend payout ratio (DPR) is presently 68.98%.

Insider Buying and Selling

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 1,800 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of C$39.02, for a total value of C$70,236.00. 0.58% of the stock is owned by company insiders.

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.