AltaGas (TSE:ALA) Price Target Raised to C$55.00

AltaGas (TSE:ALA) had its price objective upped by research analysts at Royal Bank Of Canada from C$50.00 to C$55.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 5.08% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. TD Securities boosted their target price on AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. boosted their target price on AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. National Bank Financial boosted their target price on AltaGas from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. ATB Cormark Capital Markets boosted their target price on AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Scotiabank boosted their target price on AltaGas from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, AltaGas has an average rating of “Moderate Buy” and a consensus price target of C$52.11.

AltaGas Stock Up 2.8%

ALA stock traded up C$1.43 during mid-day trading on Friday, reaching C$52.34. 533,563 shares of the company traded hands, compared to its average volume of 1,013,152. The stock has a market cap of C$16.29 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of -4.97 and a beta of 0.34. The company has a quick ratio of 0.44, a current ratio of 0.82 and a debt-to-equity ratio of 118.25. AltaGas has a fifty-two week low of C$37.08 and a fifty-two week high of C$52.39. The firm’s 50 day moving average price is C$48.13 and its 200 day moving average price is C$44.23.

AltaGas (TSE:ALA) last released its quarterly earnings results on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 8.74% and a net margin of 6.14%.The business had revenue of C$3.97 billion during the quarter. As a group, equities research analysts predict that AltaGas will post 2.3006093 EPS 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.