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

Key Points

• AltaGas shares rose above their 200-day moving average, trading as high as C$52.75 and last at C$52.69, up 0.8% with 506,761 shares traded.
• Analyst sentiment is positive: eight analysts rate AltaGas a Buy, with a consensus price target of C$56.56. Recent firms raised targets to between C$59 and C$63, all maintaining outperform-equivalent ratings.
• AltaGas reported quarterly EPS of C$0.31 on C$3.80 billion in revenue and recently paid a quarterly dividend of C$0.334, equivalent to C$1.34 annually and a 2.5% yield.

AltaGas Ltd. (TSE:ALA - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$52.49 and traded as high as C$52.75. AltaGas shares last traded at C$52.69, with a volume of 506,761 shares traded.

Wall Street Analysts Forecast Growth

ALA has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their target price on AltaGas from C$55.00 to C$59.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. BMO Capital Markets raised their price target on AltaGas from C$54.00 to C$59.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. ATB Cormark Capital Markets lifted their price target on AltaGas from C$60.00 to C$63.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Scotiabank boosted their price target on AltaGas from C$57.00 to C$62.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, AltaGas has an average rating of "Buy" and a consensus price target of C$56.56.

AltaGas Stock Up 0.8%

The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 112.99. The company has a market capitalization of C$16.44 billion, a P/E ratio of 26.61, a PEG ratio of -4.97 and a beta of 0.28. The firm has a 50-day moving average price of C$53.45 and a two-hundred day moving average price of C$52.49.

AltaGas (TSE:ALA - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. The business had revenue of C$3.80 billion for the quarter. Equities research analysts anticipate that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were paid a $0.3340 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, September 16th. AltaGas's dividend payout ratio (DPR) is presently 65.56%.

AltaGas Company Profile

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.

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