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

AltaGas Ltd. (TSE:ALA) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$40.32 and traded as high as C$42.59. AltaGas shares last traded at C$42.20, with a volume of 252,842 shares.

Analyst Ratings Changes

Several brokerages recently commented on ALA. TD Securities lifted their target price on shares of AltaGas from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Scotiabank lifted their target price on shares of AltaGas from C$46.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. ATB Capital lifted their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Jefferies Financial Group lifted their target price on shares of AltaGas from C$40.00 to C$46.00 in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of AltaGas from C$43.00 to C$44.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$44.89.

AltaGas Price Performance

The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The business’s 50 day moving average price is C$42.10 and its two-hundred day moving average price is C$40.32. The stock has a market cap of C$12.63 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of -4.97 and a beta of 0.13.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were issued a $0.315 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.26 annualized dividend and a yield of 3.0%. AltaGas’s dividend payout ratio (DPR) is 47.12%.

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.