AltaGas (TSE:ALA) Given New C$51.00 Price Target at National Bank Financial

AltaGas (TSE:ALA) had its price objective boosted by stock analysts at National Bank Financial from C$50.00 to C$51.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price target would indicate a potential upside of 7.50% from the stock’s current price.

Other analysts have also issued research reports about the stock. Scotiabank lifted their price target on shares of AltaGas from C$50.00 to C$52.00 and gave the company an “outperform” rating in a research report on Monday. Canadian Imperial Bank of Commerce raised their target price on AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. TD Securities lifted their target price on AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research report on Monday. ATB Cormark Capital Markets upped their price target on AltaGas from C$49.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Jefferies Financial Group increased their price target on AltaGas from C$49.00 to C$53.00 in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$49.89.

AltaGas Price Performance

Shares of AltaGas stock traded up C$1.16 on Monday, hitting C$47.44. 4,602,333 shares of the company were exchanged, compared to its average volume of 879,069. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 126.46. The company has a 50-day moving average price of C$42.96 and a 200 day moving average price of C$42.43. The stock has a market capitalization of C$14.76 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of -4.97 and a beta of 0.49. AltaGas has a 1-year low of C$35.33 and a 1-year high of C$48.32.

AltaGas (TSE:ALA) last released its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. The company had revenue of C$3.29 billion for the quarter. AltaGas had a return on equity of 8.78% and a net margin of 6.15%. As a group, sell-side analysts predict that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

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. Natural gas is sold and purchased for both commercial and industrial users.