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

Key Points

• AltaGas stock crossed above its 200-day moving average (200‑day MA C$43.11), trading as high as C$48.60 and last at C$48.55 on volume of 1,045,820, marking a technical bullish signal.
• Multiple analysts raised price targets (e.g., Jefferies to C$53, Scotiabank to C$52), leaving a consensus rating of Moderate Buy with a consensus price target of C$49.89.
• AltaGas reported quarterly EPS of C$0.77 on C$3.29B revenue and increased its quarterly dividend to $0.334 (annualized C$1.34, ~2.8% yield) with a payout ratio around 50.8%.

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$43.11 and traded as high as C$48.60. AltaGas shares last traded at C$48.55, with a volume of 1,045,820 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently commented on ALA shares. Scotiabank raised their price target on AltaGas from C$50.00 to C$52.00 and gave the stock an "outperform" rating in a research report on Monday, March 9th. Canadian Imperial Bank of Commerce upped their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. TD Securities increased their price objective on shares of AltaGas from C$48.00 to C$51.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. Jefferies Financial Group raised their target price on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Finally, Royal Bank Of Canada boosted their target price on shares of AltaGas from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research report on Monday, March 9th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AltaGas presently has a consensus rating of "Moderate Buy" and a consensus price target of C$49.89.

AltaGas Stock Up 1.0%

The company has a debt-to-equity ratio of 118.25, a current ratio of 0.82 and a quick ratio of 0.44. The stock has a market capitalization of C$15.11 billion, a P/E ratio of 19.58, a P/E/G ratio of -4.97 and a beta of 0.49. The firm has a 50-day simple moving average of C$44.97 and a 200 day simple moving average of C$43.11.

AltaGas (TSE:ALA - Get Free Report) last released its quarterly earnings results on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. AltaGas had a return on equity of 8.74% and a net margin of 6.14%.The company had revenue of C$3.29 billion for the quarter. On average, equities research analysts forecast that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from AltaGas's previous quarterly dividend of $0.32. AltaGas's payout ratio is presently 50.81%.

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. Natural gas is sold and purchased for both commercial and industrial users.

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