AltaGas (TSE:ALA) Price Target Raised to C$51.00 at TD Securities

AltaGas (TSE:ALA) had its target price raised by stock analysts at TD Securities from C$48.00 to C$51.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 7.50% from the company’s previous close.

Several other research analysts also recently commented on the company. ATB Cormark Capital Markets boosted their target price on AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday. Jefferies Financial Group lifted their price target on shares of AltaGas from C$49.00 to C$53.00 in a report on Monday. Scotiabank increased their price objective on shares of AltaGas from C$50.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday. Canadian Imperial Bank of Commerce lifted their price target on AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. increased their price objective on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, AltaGas has an average rating of “Moderate Buy” and a consensus target price of C$49.89.

AltaGas Price Performance

ALA traded up C$1.16 on Monday, hitting C$47.44. 4,602,333 shares of the stock were exchanged, compared to its average volume of 879,069. The firm has a market capitalization of C$14.76 billion, a price-to-earnings ratio of 19.05, a PEG ratio of -4.97 and a beta of 0.49. The company has a debt-to-equity ratio of 126.46, a current ratio of 0.88 and a quick ratio of 0.44. AltaGas has a 12 month low of C$35.33 and a 12 month high of C$48.32. The business has a 50-day moving average of C$42.96 and a two-hundred day moving average of C$42.43.

AltaGas (TSE:ALA) last issued its quarterly earnings results 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 during the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%. Sell-side analysts forecast 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.