AltaGas (TSE:ALA – Get Free Report) has been assigned a C$36.00 target price by research analysts at ATB Capital in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s price objective would suggest a potential upside of 8.43% from the stock’s current price.
Several other analysts also recently commented on the stock. Scotiabank increased their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on AltaGas from C$33.00 to C$36.00 in a research note on Friday, July 19th. Royal Bank of Canada upped their price target on AltaGas from C$34.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets boosted their target price on AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. Finally, National Bankshares raised their price target on shares of AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$37.40.
View Our Latest Stock Analysis on ALA
AltaGas Price Performance
AltaGas (TSE:ALA – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.02. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. The firm had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion.
Insider Activity at AltaGas
In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00. In related news, Senior Officer Bertram Grant Bradley sold 7,500 shares of AltaGas stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total transaction of C$105,960.00. Insiders sold 33,320 shares of company stock valued at $1,125,051 over the last 90 days. Insiders own 0.58% of the company’s stock.
About AltaGas
AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.
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