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

AltaGas Ltd. (TSE:ALA)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$51.47 and traded as high as C$54.10. AltaGas shares last traded at C$53.52, with a volume of 722,322 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of AltaGas from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Scotiabank upped their price target on AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. ATB Cormark Capital Markets raised their price objective on AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. National Bank Financial boosted their target price on AltaGas from C$52.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Finally, BMO Capital Markets raised their price target on AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, AltaGas currently has an average rating of “Buy” and a consensus price target of C$56.56.

AltaGas Price Performance

The company has a market cap of C$16.29 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of -4.97 and a beta of 0.33. The stock has a 50 day simple moving average of C$54.01 and a two-hundred day simple moving average of C$51.53. The company has a debt-to-equity ratio of 112.99, a current ratio of 0.86 and a quick ratio of 0.43.

AltaGas (TSE:ALA) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share for the quarter. The business had revenue of C$3.80 billion during the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. On average, equities research analysts predict that AltaGas Ltd. will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.334 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 16th. AltaGas’s dividend payout ratio is 65.56%.

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