AltaGas (TSE:ALA) Given New C$50.00 Price Target at Scotiabank

AltaGas (TSE:ALA) had its target price lifted by analysts at Scotiabank from C$48.00 to C$50.00 in a research note issued on Tuesday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 22.46% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada raised their price objective on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. CIBC boosted their target price on AltaGas from C$46.00 to C$47.00 in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. increased their target price on AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, AltaGas currently has a consensus rating of “Moderate Buy” and an average target price of C$46.56.

AltaGas Stock Down 2.5%

ALA traded down C$1.06 during trading on Tuesday, reaching C$40.83. The stock had a trading volume of 300,955 shares, compared to its average volume of 832,542. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The company has a market capitalization of C$12.70 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of -4.97 and a beta of 0.35. The stock’s 50 day moving average is C$42.39 and its two-hundred day moving average is C$41.16. AltaGas has a one year low of C$32.02 and a one year high of C$44.37.

AltaGas (TSE:ALA) last released its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%.The business had revenue of C$2.60 billion during the quarter. As a group, analysts expect that AltaGas will post 2.3006093 earnings per share for the current 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.