AltaGas (TSE:ALA) Given New C$33.00 Price Target at Scotiabank

AltaGas (TSE:ALAGet Rating) had its target price raised by investment analysts at Scotiabank from C$31.00 to C$33.00 in a research note issued on Tuesday, BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 6.38% from the stock’s current price.

Other analysts also recently issued reports about the stock. TD Securities upped their price objective on shares of AltaGas from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Monday, March 7th. ATB Capital increased their price objective on AltaGas from C$30.00 to C$32.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$31.00 target price on shares of AltaGas in a research report on Tuesday, January 4th. CSFB boosted their price objective on shares of AltaGas from C$31.00 to C$35.00 in a report on Monday, April 11th. Finally, CIBC lowered their price target on AltaGas from C$34.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Monday, March 7th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$31.61.

AltaGas stock traded up C$0.10 during trading hours on Tuesday, hitting C$31.02. The company had a trading volume of 315,403 shares, compared to its average volume of 796,073. AltaGas has a fifty-two week low of C$21.23 and a fifty-two week high of C$31.12. The company has a debt-to-equity ratio of 114.56, a current ratio of 0.99 and a quick ratio of 0.57. The firm has a market capitalization of C$8.69 billion and a P/E ratio of 37.82. The firm’s fifty day moving average is C$28.45 and its 200-day moving average is C$26.79.

AltaGas (TSE:ALAGet Rating) last posted its earnings results on Friday, March 4th. The company reported C$0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.40 by C($0.02). The business had revenue of C$3.14 billion for the quarter, compared to analysts’ expectations of C$1.53 billion. Analysts anticipate that AltaGas will post 1.9793497 earnings per share for the current year.

AltaGas Company Profile (Get Rating)

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 rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.7 million customers.

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