AltaGas (TSE:ALA) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of AltaGas Ltd. (TSE:ALA) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$51.02 and traded as high as C$52.93. AltaGas shares last traded at C$52.85, with a volume of 705,427 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. National Bank Financial lifted their price objective on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Royal Bank Of Canada raised their price target on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Scotiabank upped their price objective on shares of AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 21st. BMO Capital Markets increased their price objective on shares of AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, ATB Cormark Capital Markets lifted their target price on shares of AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$56.56.

AltaGas Trading Up 1.1%

The firm has a 50-day moving average of C$54.10 and a 200 day moving average of C$51.09. The company has a market cap of C$16.59 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of -4.97 and a beta of 0.33. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 112.99.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) for the quarter. The firm had revenue of C$3.80 billion for the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. On average, analysts predict that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, June 16th. AltaGas’s payout ratio is presently 65.56%.

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