AltaGas (TSE:ALA) Share Price Passes Above 200 Day Moving Average – Should You Sell?

AltaGas Ltd. (TSE:ALA)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$43.11 and traded as high as C$48.60. AltaGas shares last traded at C$48.55, with a volume of 1,045,820 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on ALA shares. Canadian Imperial Bank of Commerce boosted their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. JPMorgan Chase & Co. lifted their target price on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Scotiabank upped their price target on AltaGas from C$50.00 to C$52.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. TD Securities upped their price target on AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, National Bank Financial increased their price target on AltaGas from C$50.00 to C$51.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AltaGas presently has a consensus rating of “Moderate Buy” and a consensus price target of C$49.89.

AltaGas Stock Up 1.0%

The stock’s 50-day moving average price is C$44.97 and its 200-day moving average price is C$43.11. The company has a current ratio of 0.82, a quick ratio of 0.44 and a debt-to-equity ratio of 118.25. The stock has a market cap of C$15.11 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of -4.97 and a beta of 0.49.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. The company had revenue of C$3.29 billion during the quarter. On average, sell-side analysts expect that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.

AltaGas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, March 16th. This is an increase from AltaGas’s previous quarterly dividend of $0.32. AltaGas’s dividend payout ratio (DPR) is 50.81%.

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