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

AltaGas Ltd. (TSE:ALA) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$32.97 and traded as high as C$33.66. AltaGas shares last traded at C$33.48, with a volume of 381,382 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALA. JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and raised their price objective for the company from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. Scotiabank boosted their price target on shares of AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. ATB Capital set a C$36.00 price objective on shares of AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Royal Bank of Canada lifted their target price on shares of AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets upped their target price on AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$38.10.

AltaGas Trading Down 0.1 %

The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. The firm has a 50 day moving average of C$33.71 and a 200 day moving average of C$32.97. The firm has a market cap of C$9.96 billion, a PE ratio of 23.09, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.56%. AltaGas’s payout ratio is 82.07%.

Insider Activity at AltaGas

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of AltaGas stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of C$32.97 per share, for a total transaction of C$250,549.20. 0.58% of the stock is currently owned by company insiders.

About AltaGas

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.