AltaGas (TSE:ALA) Shares Break Above 200-Day Moving Average – Should You Sell?

by · The Cerbat Gem

AltaGas Ltd. (TSE:ALA – Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$53.20 and traded as high as C$56.74. AltaGas shares last traded at C$56.36, with a volume of 808,366 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALA. BMO Capital Markets raised their price objective on AltaGas from C$54.00 to C$59.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Scotiabank boosted their target price on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 21st. ATB Cormark Capital Markets increased their price target on shares of AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce lowered shares of AltaGas from an “outperformer” rating to a “hold” rating and set a C$58.00 price target for the company. in a research report on Thursday. Finally, Royal Bank Of Canada raised their price target on shares of AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, AltaGas presently has a consensus rating of “Moderate Buy” and a consensus target price of C$57.44.

Read Our Latest Stock Report on ALA

AltaGas Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 112.99. The stock has a market cap of C$17.27 billion, a price-to-earnings ratio of 27.95, a PEG ratio of -4.97 and a beta of 0.32. The stock has a 50-day moving average price of C$53.64 and a two-hundred day moving average price of C$53.24.

AltaGas (TSE:ALA – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. The company had revenue of C$3.80 billion for the quarter. As a group, equities research analysts forecast that AltaGas Ltd. will post 2.30 EPS for the current year.

AltaGas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were paid a dividend of $0.3340 per share. The ex-dividend date was Wednesday, September 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.4%. AltaGas’s payout ratio is presently 65.56%.

About AltaGas

(Get Free Report)

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.

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