BMO Capital Markets Lowers AltaGas (TSE:ALA) Price Target to C$35.00

AltaGas (TSE:ALAGet Rating) had its price target lowered by investment analysts at BMO Capital Markets from C$36.00 to C$35.00 in a research report issued on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 46.50% from the company’s current price.

Several other analysts also recently weighed in on the company. Barclays set a C$29.00 target price on AltaGas and gave the company an “overweight” rating in a report on Wednesday, January 18th. CIBC boosted their target price on AltaGas from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, December 6th. CSFB boosted their target price on AltaGas from C$30.00 to C$33.00 in a report on Wednesday, February 8th. Scotiabank boosted their price target on AltaGas from C$30.00 to C$31.00 in a research report on Monday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price target on AltaGas from C$30.00 to C$28.00 in a research report on Tuesday, December 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from, the stock has an average rating of “Moderate Buy” and a consensus price target of C$32.18.

AltaGas Stock Up 1.6 %

Shares of TSE ALA opened at C$23.89 on Friday. AltaGas has a 1 year low of C$22.05 and a 1 year high of C$31.16. The company has a debt-to-equity ratio of 123.88, a current ratio of 1.09 and a quick ratio of 0.44. The company has a market capitalization of C$6.73 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of -4.97 and a beta of 1.31. The business has a 50-day moving average of C$24.15 and a two-hundred day moving average of C$25.17.

Insider Buying and Selling

In other news, Director David Wallace Cornhill acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 20th. The stock was purchased at an average cost of C$22.70 per share, with a total value of C$113,500.00. Following the purchase, the director now directly owns 1,453,727 shares of the company’s stock, valued at approximately C$32,999,602.90. Insiders own 0.63% of the company’s stock.

AltaGas Company Profile

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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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