AltaGas (TSE:ALA) Price Target Raised to C$50.00

AltaGas (TSE:ALA) had its target price lifted by equities research analysts at National Bankshares from C$46.00 to C$50.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ target price would suggest a potential upside of 22.49% from the stock’s current price.

ALA has been the subject of a number of other research reports. Scotiabank increased their target price on shares of AltaGas from C$48.00 to C$50.00 in a research report on Tuesday. Jefferies Financial Group lifted their target price on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. CIBC boosted their target price on shares of AltaGas from C$46.00 to C$47.00 in a report on Friday, October 31st. JPMorgan Chase & Co. increased their price target on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada lifted their price objective on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$47.44.

AltaGas Trading Up 0.5%

Shares of AltaGas stock traded up C$0.19 during trading on Wednesday, hitting C$40.82. The company’s stock had a trading volume of 232,364 shares, compared to its average volume of 832,956. The stock has a market cap of C$12.70 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35. AltaGas has a 52 week low of C$32.04 and a 52 week high of C$44.37. The stock has a 50-day moving average price of C$42.34 and a two-hundred day moving average price of C$41.17. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, October 30th. The company reported C($0.08) EPS for the quarter. The company had revenue of C$2.60 billion for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. Equities research analysts anticipate that AltaGas will post 2.3006093 EPS for the current fiscal year.

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.