TD Securities Raises AltaGas (TSE:ALA) Price Target to C$51.00

AltaGas (TSE:ALA) had its price target upped by equities research analysts at TD Securities from C$48.00 to C$51.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 7.50% from the company’s current price.

A number of other brokerages have also recently commented on ALA. ATB Cormark Capital Markets raised their price target on shares of AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday. Jefferies Financial Group lifted their price target on shares of AltaGas from C$49.00 to C$53.00 in a research report on Monday. Canadian Imperial Bank of Commerce increased their price objective on shares of AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. JPMorgan Chase & Co. raised their price objective on shares of AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Finally, National Bank Financial raised their target price on 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AltaGas currently has an average rating of “Moderate Buy” and an average target price of C$49.89.

AltaGas Price Performance

Shares of TSE:ALA traded up C$1.16 on Monday, reaching C$47.44. 4,602,333 shares of the company traded hands, compared to its average volume of 879,069. The stock has a market capitalization of C$14.76 billion, a PE ratio of 19.05, a P/E/G ratio of -4.97 and a beta of 0.49. The company has a debt-to-equity ratio of 126.46, a current ratio of 0.88 and a quick ratio of 0.44. The company’s 50 day moving average is C$42.96 and its 200-day moving average is C$42.43. AltaGas has a fifty-two week low of C$35.33 and a fifty-two week high of C$48.32.

AltaGas (TSE:ALA) last posted its earnings results on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%. The business had revenue of C$3.29 billion for the quarter. As a group, analysts anticipate 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.