AltaGas (TSE:ALA) Price Target Raised to C$35.00

AltaGas (TSE:ALAGet Rating) had its price objective upped by research analysts at ATB Capital to C$35.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s target price indicates a potential upside of 14.68% from the company’s current price.

Several other research analysts have also recently weighed in on ALA. TD Securities raised their target price on AltaGas from C$32.00 to C$33.00 and gave the company a “buy” rating in a research note on Friday, April 29th. National Bankshares raised their target price on AltaGas from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research note on Friday, April 29th. Raymond James set a C$32.00 target price on AltaGas and gave the company an “outperform” rating in a research note on Friday, April 29th. Scotiabank raised their target price on AltaGas from C$31.00 to C$33.00 in a research note on Tuesday, April 19th. Finally, CSFB raised their target price on AltaGas from C$31.00 to C$35.00 in a research note on Monday, April 11th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$32.88.

Shares of TSE:ALA traded up C$0.24 on Friday, hitting C$30.52. The company’s stock had a trading volume of 217,108 shares, compared to its average volume of 762,107. AltaGas has a 12 month low of C$23.83 and a 12 month high of C$31.16. The company has a market capitalization of C$8.57 billion and a price-to-earnings ratio of 34.34. The stock’s 50-day moving average is C$29.16 and its two-hundred day moving average is C$27.51. The company has a debt-to-equity ratio of 114.82, a quick ratio of 0.69 and a current ratio of 1.11.

AltaGas (TSE:ALAGet Rating) last released its quarterly earnings results on Friday, March 4th. The company reported C$0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.40 by C($0.02). The firm had revenue of C$3.14 billion during the quarter, compared to the consensus estimate of C$1.53 billion. Equities analysts expect that AltaGas will post 2.0031482 earnings per share for the current fiscal 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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