AltaGas (TSE:ALA) Stock Price Expected to Rise, National Bank Financial Analyst Says

AltaGas (TSE:ALA) had its target price raised by research analysts at National Bank Financial from C$51.00 to C$52.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential downside of 0.65% from the stock’s previous close.

A number of other research analysts have also issued reports on ALA. Scotiabank upped their price target on shares of AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. TD Securities upped 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 note on Monday, March 9th. Royal Bank Of Canada upped their price target on shares of AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday. ATB Cormark Capital Markets upped their price target on shares of AltaGas from C$54.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group upped their price target on shares of AltaGas from C$49.00 to C$53.00 in a research note on Monday, March 9th. Seven equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$52.11.

AltaGas Stock Up 2.8%

Shares of TSE ALA traded up C$1.43 during trading hours on Friday, hitting C$52.34. 533,563 shares of the stock were exchanged, compared to its average volume of 1,013,152. The company has a quick ratio of 0.44, a current ratio of 0.82 and a debt-to-equity ratio of 118.25. The company has a market cap of C$16.29 billion, a PE ratio of 21.10, a PEG ratio of -4.97 and a beta of 0.34. The firm has a fifty day moving average price of C$48.13 and a 200-day moving average price of C$44.23. AltaGas has a 12 month low of C$37.08 and a 12 month high of C$52.39.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 EPS for the quarter. AltaGas had a net margin of 6.14% and a return on equity of 8.74%. The firm had revenue of C$3.97 billion during the quarter. On average, sell-side analysts expect that AltaGas will post 2.3006093 EPS 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. Natural gas is sold and purchased for both commercial and industrial users.