Scotiabank Increases AltaGas (TSE:ALA) Price Target to C$39.00

AltaGas (TSE:ALA) had its price target lifted by investment analysts at Scotiabank from C$38.00 to C$39.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 15.69% from the stock’s current price.

A number of other research firms also recently weighed in on ALA. Royal Bank of Canada upped their target price on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and raised their target price for the company from C$36.00 to C$37.00 in a research note on Wednesday. Jefferies Financial Group boosted their price target on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. National Bankshares raised their price objective on shares of AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets boosted their target price on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AltaGas presently has a consensus rating of “Moderate Buy” and an average price target of C$38.10.

AltaGas Price Performance

Shares of ALA opened at C$33.71 on Thursday. The firm has a market capitalization of C$10.03 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The stock’s fifty day moving average is C$34.04 and its 200-day moving average is C$31.79. AltaGas has a one year low of C$24.67 and a one year high of C$35.77. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas (TSE:ALA) last released its earnings results on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion for the quarter, compared to analysts’ expectations of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. Equities analysts anticipate that AltaGas will post 2.3006093 EPS for the current year.

Insider Buying and Selling

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total value of C$252,075.00. In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 firm’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. In the last 90 days, insiders sold 33,320 shares of company stock valued at $1,125,051. Company insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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.