AltaGas (TSE:ALA) Stock Price Crosses Above 200 Day Moving Average of $27.74

AltaGas Ltd. (TSE:ALA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.74 and traded as high as C$29.29. AltaGas shares last traded at C$29.22, with a volume of 968,058 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALA shares. National Bankshares lifted their target price on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. CIBC lifted their price objective on AltaGas from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Friday, December 29th. TD Securities lifted their price objective on AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Scotiabank lifted their price objective on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the company a “buy” rating in a research note on Tuesday, February 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$33.75.

AltaGas Stock Performance

The firm has a 50 day moving average of C$28.82 and a two-hundred day moving average of C$27.74. The stock has a market cap of C$8.63 billion, a PE ratio of 12.93, a PEG ratio of -4.97 and a beta of 1.22. The company has a debt-to-equity ratio of 125.64, a current ratio of 0.89 and a quick ratio of 0.44.

AltaGas (TSE:ALA) last posted its earnings results on Friday, March 8th. The company reported C$0.75 earnings per share for the quarter, hitting the consensus estimate of C$0.75. The firm had revenue of C$3.29 billion during the quarter, compared to analysts’ expectations of C$4.11 billion. AltaGas had a return on equity of 8.90% and a net margin of 5.18%. Research analysts predict that AltaGas Ltd. will post 2.1549815 EPS for the current fiscal year.

AltaGas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were paid a dividend of $0.298 per share. This is a boost from AltaGas’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.19 annualized dividend and a yield of 4.08%. AltaGas’s payout ratio is presently 52.65%.

Insider Buying and Selling

In other AltaGas news, Senior Officer Randy Warren Toone sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$29.18, for a total value of C$1,167,200.00. In other AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total value of C$361,564.00. Also, Senior Officer Randy Warren Toone sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$29.18, for a total value of C$1,167,200.00. Insiders sold a total of 68,239 shares of company stock worth $2,002,672 over the last 90 days. 0.57% of the stock is owned by insiders.

AltaGas Company Profile

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.