AltaGas (TSE:ALA) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

AltaGas Ltd. (TSE:ALA) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.74 and traded as low as C$32.56. AltaGas shares last traded at C$32.73, with a volume of 2,239,023 shares changing hands.

Analyst Ratings Changes

ALA has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Scotiabank raised their target price on shares of AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price target on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. ATB Capital set a C$36.00 price objective on shares of AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, National Bankshares lifted their target price on shares of AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.10.

AltaGas Stock Up 0.3 %

The business has a 50-day moving average price of C$34.02 and a 200 day moving average price of C$32.74. The company has a current ratio of 0.85, a quick ratio of 0.44 and a debt-to-equity ratio of 115.50. The stock has a market capitalization of C$9.76 billion, a P/E ratio of 22.64, a P/E/G ratio of -4.97 and a beta of 1.23.

AltaGas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Monday, December 16th. AltaGas’s payout ratio is 82.07%.

Insider Activity

In other news, Senior Officer Randy Warren Toone sold 3,000 shares of AltaGas stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total transaction of C$105,960.00. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of C$32.97 per share, for a total transaction of C$250,549.20. Corporate insiders own 0.58% of the company’s stock.

About AltaGas

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.