AltaGas (TSE:ALA) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

AltaGas Ltd. (TSE:ALA)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-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

Several research analysts have issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. BMO Capital Markets raised their price objective on AltaGas from C$54.00 to C$59.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. ATB Cormark Capital Markets increased their target price on shares of 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 objective on shares of AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$56.56.

AltaGas Stock Up 1.2%

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 stock has a market capitalization of C$16.63 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of -4.97 and a beta of 0.28. The stock has a 50 day moving average price of C$53.37 and a 200 day moving average price of C$52.50.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. The firm had revenue of C$3.80 billion during the quarter. As a group, analysts forecast that AltaGas Ltd. will post 2.3006093 EPS for the current year.

AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a $0.3340 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.5%. AltaGas’s dividend payout ratio is currently 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.