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

AltaGas (TSE:ALA – Get 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 MarketBeat.com, 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

(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.