AltaGas (TSE:ALA) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. CIBC increased their price target on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Scotiabank increased their price target on AltaGas from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, AltaGas has a consensus rating of “Moderate Buy” and a consensus price target of C$38.40.

AltaGas Price Performance

The stock has a 50 day moving average price of C$33.93 and a two-hundred day moving average price of C$33.85. 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 market capitalization of C$10.38 billion, a PE ratio of 20.22, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

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. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, December 16th. AltaGas’s dividend payout ratio (DPR) is presently 68.98%.

Insider Transactions at AltaGas

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction dated Monday, January 13th. The stock was 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 acquired 7,600 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of C$32.97 per share, for a total transaction of C$250,549.20. Company 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.