AltaGas (TSE:ALA) Stock Crosses Above 200 Day Moving Average – Time to Sell?

AltaGas Ltd. (TSE:ALA)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$33.85 and traded as high as C$34.75. AltaGas shares last traded at C$34.73, with a volume of 374,757 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALA. Scotiabank lifted their target price on shares of AltaGas from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. CIBC raised their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$38.40.

AltaGas Price Performance

The business’s 50 day moving average price is C$33.89 and its two-hundred day moving average price is C$33.85. The stock has a market cap of C$10.34 billion, a P/E ratio of 20.13, 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Monday, December 16th. AltaGas’s payout ratio is 68.98%.

Insider Activity

In related news, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of C$32.97 per share, with a total value of C$250,549.20. Insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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.