AltaGas (TSE:ALA) Shares Cross Above 200-Day Moving Average - Should You Sell?

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$36.12 and traded as high as C$38.69. AltaGas shares last traded at C$38.52, with a volume of 619,720 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. CIBC lifted their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Jefferies Financial Group lifted their price target on shares of AltaGas from C$38.00 to C$40.00 in a research note on Wednesday, April 30th. BMO Capital Markets lifted their price target on shares of AltaGas from C$40.00 to C$43.00 in a research note on Friday, May 2nd. Scotiabank lifted their price target on shares of AltaGas from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Veritas upgraded shares of AltaGas to a "strong sell" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$41.33.

AltaGas Stock Performance

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 has a market cap of C$11.44 billion, a PE ratio of 22.27, a P/E/G ratio of -4.97 and a beta of 1.23. The business's fifty day moving average is C$38.64 and its 200-day moving average is C$36.15.

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 for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, research analysts predict that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from AltaGas's previous quarterly dividend of $0.30. AltaGas's payout ratio is 68.98%.

Insider Transactions at AltaGas

In related 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 value of C$5,474,432.00. Also, Director Peter James Ledig sold 13,361 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of C$40.04, for a total transaction of C$534,974.44. Over the last quarter, insiders have sold 400,214 shares of company stock valued at $15,372,463. 0.58% of the stock is currently owned by corporate 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.