AltaGas (TSE:ALA) Share Price Passes Above 200-Day Moving Average - Time to Sell?

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$36.28 and traded as high as C$38.53. AltaGas shares last traded at C$38.33, with a volume of 391,500 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALA shares. Jefferies Financial Group upped their target price on AltaGas from C$38.00 to C$40.00 in a research note on Wednesday, April 30th. BMO Capital Markets boosted their price objective on AltaGas from C$40.00 to C$43.00 in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. National Bankshares lifted their target price on shares of AltaGas from C$41.00 to C$44.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, CIBC boosted their price target on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$41.33.

AltaGas Stock Performance

The firm has a market cap of C$11.49 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a 50 day simple moving average of C$38.56 and a 200-day simple moving average of C$36.29. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44.

AltaGas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.315 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.26 annualized dividend and a dividend yield of 3.27%. This is an increase from AltaGas's previous quarterly dividend of $0.30. AltaGas's payout ratio is currently 68.98%.

Insider Activity at AltaGas

In other news, Director Derek Watson Evans purchased 19,239 shares of AltaGas stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average cost of C$38.98 per share, with a total value of C$749,936.22. Also, Senior Officer Corine Renae Knight Bushfield sold 108,589 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of C$38.10, for a total value of C$4,137,240.90. Insiders sold 230,950 shares of company stock worth $8,931,611 in the last ninety days. 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.