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

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$37.40 and traded as high as C$40.90. AltaGas shares last traded at C$40.37, with a volume of 533,443 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALA. BMO Capital Markets increased their target price on shares of AltaGas from C$40.00 to C$43.00 in a research report on Friday, May 2nd. Veritas upgraded AltaGas to a "strong sell" rating in a report on Friday, May 2nd. National Bankshares increased their price target on AltaGas from C$41.00 to C$44.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Jefferies Financial Group increased their price target on AltaGas from C$40.00 to C$46.00 in a report on Wednesday. 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 issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$42.30.

AltaGas Stock Performance

The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The company has a 50 day moving average price of C$38.75 and a 200 day moving average price of C$37.48. The company has a market capitalization of C$11.97 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.315 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.26 dividend on an annualized basis and a yield of 3.13%. AltaGas's dividend payout ratio (DPR) is presently 68.98%.

Insider Transactions at AltaGas

In related news, Senior Officer Donald Mark Jenkins sold 1,800 shares of AltaGas stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$39.02, for a total value of C$70,236.00. Insiders own 0.58% of the company's stock.

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.