AltaGas (TSE:ALA) Given New C$52.00 Price Target at Scotiabank

AltaGas (TSE:ALA) had its price objective hoisted by equities research analysts at Scotiabank from C$50.00 to C$52.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 9.61% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. ATB Cormark Capital Markets raised their target price on shares of AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. National Bank Financial raised their price objective on shares of AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Jefferies Financial Group increased their price objective on AltaGas from C$49.00 to C$53.00 in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Seven research analysts have rated the stock with a Buy rating and one has given 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$49.89.

AltaGas Price Performance

ALA traded up C$1.16 on Monday, reaching C$47.44. The company had a trading volume of 4,602,333 shares, compared to its average volume of 879,069. The company has a market capitalization of C$14.76 billion, a P/E ratio of 19.05, a PEG ratio of -4.97 and a beta of 0.49. 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 fifty day moving average of C$42.96 and a 200-day moving average of C$42.43. AltaGas has a one year low of C$35.33 and a one year high of C$48.32.

AltaGas (TSE:ALA) last posted its quarterly earnings data 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 during the quarter. As a group, equities research analysts anticipate that AltaGas will post 2.3006093 earnings per share 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.