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

AltaGas Ltd. (TSE:ALA) crossed 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALA. CIBC lifted their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Scotiabank boosted their price objective on shares of AltaGas from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$38.40.

AltaGas Stock Up 1.6 %

The firm’s 50-day simple moving average is C$34.19 and its 200 day simple moving average is C$33.94. The company has a market cap of C$10.55 billion, a P/E ratio of 20.55, a PEG ratio of -4.97 and a beta of 1.23. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas Announces Dividend

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

Insider Buying and Selling at AltaGas

In other news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of AltaGas stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of C$32.97 per share, with a total value of C$250,549.20. Corporate insiders own 0.58% of the company’s stock.

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.