AltaGas (TSE:ALA) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

AltaGas Ltd. (TSE:ALA)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$41.82 and traded as high as C$43.44. AltaGas shares last traded at C$43.14, with a volume of 852,830 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. CIBC boosted their price objective on AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. Royal Bank Of Canada upped their price objective on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. ATB Capital lifted their target price on AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$48.11.

AltaGas Stock Up 1.3%

The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The company has a fifty day simple moving average of C$41.64 and a two-hundred day simple moving average of C$41.82. The firm has a market capitalization of C$13.42 billion, a PE ratio of 17.33, a PEG ratio of -4.97 and a beta of 0.37.

AltaGas (TSE:ALA) last released its quarterly earnings data on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. The business had revenue of C$2.60 billion during the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Analysts forecast that AltaGas Ltd. will post 2.3006093 EPS for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 49.90%.

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. Natural gas is sold and purchased for both commercial and industrial users.