AltaGas (TSE:ALA) Given New C$42.00 Price Target at Scotiabank

AltaGas (TSE:ALA) had its target price lifted by analysts at Scotiabank from C$40.00 to C$42.00 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 9.55% from the company’s current price.

Separately, CIBC lifted their price objective on AltaGas from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, AltaGas has an average rating of “Moderate Buy” and a consensus target price of C$38.60.

AltaGas Stock Performance

Shares of TSE ALA traded up C$0.92 during midday trading on Monday, hitting C$38.34. 1,181,630 shares of the company’s stock were exchanged, compared to its average volume of 795,851. The company’s 50 day moving average price is C$34.48 and its 200 day moving average price is C$34.08. The firm has a market capitalization of C$11.41 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. AltaGas has a 12 month low of C$28.63 and a 12 month high of C$38.44. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last released its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, analysts predict that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of C$32.97 per share, with a total value of C$250,549.20. Also, Senior Officer Donald Mark Jenkins sold 12,352 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of C$33.90, for a total value of C$418,732.80. Corporate insiders own 0.58% of the company’s stock.

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.