AltaGas (TSE:ALA) Price Target Raised to C$52.00

AltaGas (TSE:ALA) had its target price raised by ATB Cormark Capital Markets from C$49.00 to C$52.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 9.61% from the stock’s current price.

Several other equities analysts also recently weighed in on ALA. Scotiabank raised their price target on AltaGas from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Monday. National Bank Financial upped their target price on shares of AltaGas from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Canadian Imperial Bank of Commerce boosted their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. JPMorgan Chase & Co. raised their target price on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Finally, Jefferies Financial Group boosted their price target on AltaGas from C$49.00 to C$53.00 in a report on Monday. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$49.89.

AltaGas Stock Up 2.5%

TSE:ALA traded up C$1.16 during mid-day trading on Monday, hitting C$47.44. The stock had a trading volume of 4,602,333 shares, compared to its average volume of 879,069. AltaGas has a twelve month low of C$35.33 and a twelve month high of C$48.32. The stock has a 50-day simple moving average of C$42.96 and a two-hundred day simple moving average of C$42.43. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 126.46. The company has a market capitalization of C$14.76 billion, a PE ratio of 19.05, a PEG ratio of -4.97 and a beta of 0.49.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%. The firm had revenue of C$3.29 billion during the quarter. On average, equities research analysts anticipate that AltaGas will post 2.3006093 EPS for the current year.

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.