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

AltaGas Ltd. (TSE:ALA)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$41.82 and traded as high as C$43.44. AltaGas shares last traded at C$43.14, with a volume of 852,830 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. National Bankshares upped their price objective on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. boosted their price target on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. ATB Capital increased their price objective on AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Scotiabank upped their target price on AltaGas from C$48.00 to C$50.00 in a report on Tuesday, December 16th. Finally, Jefferies Financial Group lifted their price target on shares of AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Seven 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$48.11.

AltaGas Stock Down 2.2%

The stock’s 50 day simple moving average is C$41.62 and its two-hundred day simple moving average is C$41.83. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The firm has a market cap of C$13.13 billion, a P/E ratio of 16.95, a P/E/G ratio of -4.97 and a beta of 0.37.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, October 30th. The company reported C($0.08) EPS for the quarter. The firm had revenue of C$2.60 billion for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, research analysts forecast that AltaGas Ltd. will post 2.3006093 earnings per share for the current year.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, December 16th. AltaGas’s dividend payout ratio is presently 49.90%.

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