AltaGas (TSE:ALA) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of AltaGas Ltd. (TSE:ALA) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$33.85 and traded as high as C$34.75. AltaGas shares last traded at C$34.73, with a volume of 374,757 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. CIBC upped their price target on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Scotiabank increased their target price on 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 research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, AltaGas has an average rating of “Moderate Buy” and a consensus target price of C$38.40.

AltaGas Stock Performance

The company has a market cap of C$10.38 billion, a P/E ratio of 20.22, a PEG ratio of -4.97 and a beta of 1.23. The company has a 50 day moving average price of C$33.93 and a 200-day moving average price of C$33.85. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.298 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.19 annualized dividend and a dividend yield of 3.42%. AltaGas’s payout ratio is 68.98%.

Insider Transactions at AltaGas

In related news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was 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 bought 7,600 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of C$32.97 per share, with a total value of C$250,549.20. Company insiders own 0.58% of the company’s stock.

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.