ATB Capital Analysts Give AltaGas (TSE:ALA) a C$36.00 Price Target

AltaGas (TSE:ALA) 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.

AltaGas Price Performance

TSE:ALA traded down C$0.44 during trading hours on Tuesday, hitting C$33.20. The stock had a trading volume of 414,192 shares, compared to its average volume of 891,795. The firm has a market capitalization of C$9.87 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of -4.97 and a beta of 1.24. AltaGas has a one year low of C$24.67 and a one year high of C$35.49. The company has a 50 day simple moving average of C$33.17 and a two-hundred day simple moving average of C$31.13. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44.

AltaGas (TSE:ALA) 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.