AltaGas (TSE:ALA) Stock Price Crosses Above 200 Day Moving Average – Should You 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$33.55 and traded as high as C$34.97. AltaGas shares last traded at C$34.90, with a volume of 641,354 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Scotiabank increased their price target on AltaGas from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. CIBC upped their target price on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. lowered AltaGas from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$38.30.

AltaGas Stock Down 0.1 %

The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The firm has a market cap of C$10.36 billion, a PE ratio of 24.03, a P/E/G ratio of -4.97 and a beta of 1.23. The business’s 50-day simple moving average is C$33.76 and its 200 day simple moving average is C$33.59.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s payout ratio is 82.07%.

Insider Transactions at AltaGas

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business’s stock in a transaction on 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 business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of C$32.97 per share, for a total transaction of C$250,549.20. Insiders own 0.58% of the company’s stock.

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.