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

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$34.87 and traded as high as C$38.53. AltaGas shares last traded at C$38.19, with a volume of 626,775 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank increased their price target on AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC increased their target price on AltaGas from C$40.00 to C$42.00 and gave the company an "outperform" rating in a research note on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$39.11.

AltaGas Trading Down 0.2 %

The business has a 50 day simple moving average of C$37.06 and a two-hundred day simple moving average of C$34.98. The stock has a market cap of C$11.90 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA - Get Free Report) last issued its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, equities analysts anticipate that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a dividend of $0.315 per share. This is a positive change from AltaGas's previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, March 17th. AltaGas's dividend payout ratio is currently 68.98%.

Insider Buying and Selling

In other news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total transaction of C$5,474,432.00. Also, Director Peter James Ledig sold 25,200 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$38.35, for a total transaction of C$966,420.00. Insiders have sold 398,414 shares of company stock worth $15,302,227 over the last ninety days. 0.58% of the stock is owned by 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.