AltaGas (TSE:ALA) Given New C$50.00 Price Target at National Bankshares

AltaGas (TSE:ALA) had its price objective hoisted by analysts at National Bankshares from C$46.00 to C$50.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price suggests a potential upside of 22.49% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group lifted their price objective on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Royal Bank Of Canada boosted their price target on shares of AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. CIBC upped their price objective on shares of AltaGas from C$46.00 to C$47.00 in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Finally, Scotiabank boosted their target price on AltaGas from C$48.00 to C$50.00 in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AltaGas currently has an average rating of “Moderate Buy” and a consensus price target of C$47.44.

AltaGas Stock Up 0.5%

Shares of AltaGas stock traded up C$0.19 on Wednesday, hitting C$40.82. The company had a trading volume of 232,364 shares, compared to its average volume of 832,956. The stock has a market capitalization of C$12.70 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of -4.97 and a beta of 0.35. AltaGas has a 1 year low of C$32.04 and a 1 year high of C$44.37. The stock has a 50 day moving average of C$42.34 and a 200-day moving average of C$41.17. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. The company had revenue of C$2.60 billion for the quarter. As a group, sell-side analysts forecast that AltaGas will post 2.3006093 earnings per share for the current year.

About AltaGas

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.