National Bank Financial Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

AltaGas (TSE:ALA) had its target price upped by National Bank Financial from C$52.00 to C$60.00 in a report released on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s target price points to a potential upside of 11.13% from the company’s current price.

Several other analysts have also commented on ALA. TD Securities increased their price target on shares of AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Royal Bank Of Canada boosted their price objective on shares of AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Jefferies Financial Group boosted their target price on shares of AltaGas from C$49.00 to C$53.00 in a research report on Monday, March 9th. ATB Cormark Capital Markets boosted their price objective on shares of AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Scotiabank upped their target price on shares of AltaGas from C$54.00 to C$57.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AltaGas presently has an average rating of “Buy” and an average target price of C$54.25.

AltaGas Stock Performance

TSE ALA traded up C$0.34 during trading hours on Monday, hitting C$53.99. 389,232 shares of the stock were exchanged, compared to its average volume of 1,012,836. AltaGas has a 12-month low of C$37.73 and a 12-month high of C$54.75. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 115.95. The company has a market cap of C$16.82 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of -4.97 and a beta of 0.38. The stock has a 50-day moving average of C$50.36 and a 200 day moving average of C$45.71.

AltaGas (TSE:ALA) last issued its earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. The company had revenue of C$3.97 billion during the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. As a group, equities research analysts forecast 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.