AltaGas (TSE:ALA) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of AltaGas Ltd. (TSE:ALA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$32.29 and traded as high as C$34.84. AltaGas shares last traded at C$34.66, with a volume of 590,312 shares traded.

Analyst Upgrades and Downgrades

ALA has been the topic of several research reports. Raymond James upped their price objective on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets upped their price target on AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. Scotiabank lifted their price objective on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group upped their target price on shares of AltaGas from C$37.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada lifted their price target 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$38.10.

AltaGas Stock Up 0.1 %

The firm has a market cap of C$10.31 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The firm’s 50 day moving average is C$34.04 and its two-hundred day moving average is C$32.29. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50.

AltaGas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.298 per share. The ex-dividend date is Monday, December 16th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.44%. AltaGas’s dividend payout ratio is 82.07%.

Insider Activity

In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$33.82, for a total transaction of C$101,460.00. Also, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of C$33.12 per share, for a total transaction of C$251,719.60. 0.58% of the stock is 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.