AltaGas (TSE:ALA) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

AltaGas Ltd. (TSE:ALA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$33.93 and traded as high as C$35.50. AltaGas shares last traded at C$35.45, with a volume of 2,005,167 shares trading hands.

Wall Street Analysts Forecast Growth

ALA has been the topic of a number of research analyst reports. CIBC boosted their price target on shares of AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Scotiabank boosted their price objective on AltaGas from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research note 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$38.40.

AltaGas Stock Performance

The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The company has a 50-day moving average price of C$34.19 and a two-hundred day moving average price of C$33.94. The stock has a market capitalization of C$10.55 billion, a P/E ratio of 20.55, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.298 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.36%. AltaGas’s dividend payout ratio is 68.98%.

Insider Buying and Selling

In other AltaGas news, Senior Officer Vernon Dai-Chung Yu bought 7,600 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of C$32.97 per share, with a total value of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction dated Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80. 0.58% of the stock is owned by corporate insiders.

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.