AltaGas (TSE:ALA) PT Raised to C$40.00

AltaGas (TSE:ALA) had its target price raised by investment analysts at BMO Capital Markets from C$37.00 to C$40.00 in a research report issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential upside of 17.10% from the stock’s current price.

Several other equities analysts also recently commented on the company. Royal Bank of Canada upped their price objective on AltaGas from C$34.00 to C$37.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. CIBC increased their price target on AltaGas from C$38.00 to C$40.00 in a research note on Monday, July 15th. ATB Capital lifted their price objective on AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Jefferies Financial Group boosted their price objective on AltaGas from C$34.00 to C$37.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, National Bankshares raised their target price on AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AltaGas presently has a consensus rating of “Buy” and a consensus target price of C$37.40.

AltaGas Stock Performance

Shares of TSE ALA traded down C$0.11 during midday trading on Thursday, reaching C$34.16. The company’s stock had a trading volume of 258,762 shares, compared to its average volume of 840,865. The stock has a market capitalization of C$10.16 billion, a P/E ratio of 23.55, a PEG ratio of -4.97 and a beta of 1.24. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The firm has a 50 day moving average price of C$32.38 and a 200-day moving average price of C$30.67. AltaGas has a 12-month low of C$24.67 and a 12-month high of C$34.83.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.02. The business had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. As a group, equities analysts predict that AltaGas will post 2.1087355 earnings per share for the current year.

Insider Buying and Selling at AltaGas

In related news, Senior Officer Vernon Dai-Chung Yu purchased 16,500 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average price of C$30.71 per share, with a total value of C$506,715.00. In other news, Senior Officer Vernon Dai-Chung Yu acquired 16,500 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of C$30.71 per share, for a total transaction of C$506,715.00. Also, Director Deborah Susan Stein sold 1,650 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of C$30.64, for a total value of C$50,556.00. Over the last three months, insiders purchased 20,500 shares of company stock worth $627,795 and sold 66,970 shares worth $2,125,503. 0.58% of the stock is currently owned by company insiders.

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.