AltaGas (TSE:ALA) Price Target Raised to C$50.00 at Scotiabank

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

Other research analysts have also recently issued reports about the stock. CIBC increased their price target on shares of AltaGas from C$46.00 to C$47.00 in a research report on Friday, October 31st. Jefferies Financial Group upped their price objective 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 lifted their target price on shares of AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$46.56.

AltaGas Price Performance

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 business has a 50-day moving average of C$42.39 and a 200-day moving average of C$41.16. AltaGas has a one year low of C$32.02 and a one year high of C$44.37. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The stock has a market cap of C$12.70 billion, a PE ratio of 16.40, a PEG ratio of -4.97 and a beta of 0.35.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, October 30th. The company reported C($0.08) earnings per share (EPS) for the quarter. The firm had revenue of C$2.60 billion during the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, equities research analysts anticipate that AltaGas will post 2.3006093 EPS 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.