ATB Capital Forecasts Strong Price Appreciation for AltaGas (TSE:ALA) Stock

AltaGas (TSE:ALA) had its price target boosted by equities research analysts at ATB Capital from C$48.00 to C$49.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price target indicates a potential upside of 16.50% from the company’s current price.

A number of other research analysts have also weighed in on ALA. Jefferies Financial Group increased their price objective on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Scotiabank increased their price target on shares of AltaGas from C$48.00 to C$50.00 in a report on Tuesday, December 16th. Royal Bank Of Canada lifted their price objective on shares of AltaGas from C$44.00 to C$48.00 in a research note on Friday, October 31st. CIBC upped their price objective on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. Finally, National Bankshares raised their target price on shares of AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$48.11.

AltaGas Stock Performance

AltaGas stock traded up C$0.72 during mid-day trading on Tuesday, reaching C$42.06. 174,024 shares of the company traded hands, compared to its average volume of 857,142. The firm’s fifty day moving average is C$42.24 and its two-hundred day moving average is C$41.25. The company has a market capitalization of C$13.08 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of -4.97 and a beta of 0.35. AltaGas has a fifty-two week low of C$32.14 and a fifty-two week high of C$44.37. 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 quarterly earnings data on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. The company had revenue of C$2.60 billion for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. On average, equities research analysts expect that AltaGas will post 2.3006093 earnings per share 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. Natural gas is sold and purchased for both commercial and industrial users.