Altagas (TSE:ALA) Stock Price Crosses Above Two Hundred Day Moving Average of $19.45

Altagas Ltd (TSE:ALA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.45 and traded as high as $19.97. Altagas shares last traded at $19.97, with a volume of 422,135 shares trading hands.

Several analysts have recently issued reports on ALA shares. Raymond James reiterated a “market perform” rating and issued a C$19.00 price objective on shares of Altagas in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Altagas from C$19.00 to C$22.00 in a research note on Tuesday, October 22nd. CIBC upgraded Altagas from a “neutral” rating to an “outperform” rating in a research note on Thursday, October 31st. National Bank Financial raised their price target on Altagas from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets restated an “outperform” rating and issued a C$23.00 price target on shares of Altagas in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of C$21.30.

The company has a debt-to-equity ratio of 102.83, a current ratio of 0.50 and a quick ratio of 0.26. The company has a market capitalization of $5.55 billion and a price-to-earnings ratio of 5.26. The stock has a 50 day simple moving average of C$19.57 and a two-hundred day simple moving average of C$19.45.

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Thursday, October 24th. Altagas’s dividend payout ratio is presently 30.70%.

In other Altagas news, Director Allan Leslie Edgeworth purchased 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of C$19.10 per share, for a total transaction of C$95,500.00. Following the completion of the purchase, the director now directly owns 5,896 shares in the company, valued at C$112,613.60.

Altagas Company Profile (TSE:ALA)

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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