AltaGas (TSE:ALA) Given New C$63.00 Price Target at Scotia

AltaGas (TSE:ALA) had its price objective boosted by equities research analysts at Scotia from C$61.00 to C$63.00 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a “sector outperform” rating on the stock. Scotia‘s price target suggests a potential upside of 13.49% from the company’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets increased their price objective on AltaGas from C$54.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Scotiabank boosted their target price on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. ATB Cormark Capital Markets upped their price target on shares of AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce downgraded shares of AltaGas from an “outperformer” rating to a “hold” rating and set a C$58.00 price target for the company. in a report on Thursday, October 22nd. Finally, Royal Bank Of Canada raised their price objective on shares of AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$58.10.

AltaGas Stock Performance

ALA traded down C$0.71 during trading on Friday, reaching C$55.51. The company’s stock had a trading volume of 407,940 shares, compared to its average volume of 955,582. The company has a debt-to-equity ratio of 112.99, a quick ratio of 0.43 and a current ratio of 0.86. The company’s fifty day moving average price is C$53.91 and its 200-day moving average price is C$50.94. AltaGas has a 52-week low of C$39.45 and a 52-week high of C$58.14. The company has a market capitalization of C$17.32 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of -4.97 and a beta of 0.32.

AltaGas (TSE:ALA) last issued its earnings results on Thursday, October 29th. The company reported C$0.29 earnings per share (EPS) for the quarter. The business had revenue of C$3.43 billion during the quarter. AltaGas had a return on equity of 7.00% and a net margin of 4.59%. On average, equities analysts forecast that AltaGas will post 2.30 earnings per share for the current fiscal year.

About AltaGas

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.