AltaGas (TSE:ALA) PT Raised to C$34.00

AltaGas (TSE:ALA) had its price objective lifted by investment analysts at Royal Bank of Canada from C$32.00 to C$34.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 11.99% from the company’s previous close.

Several other equities analysts also recently weighed in on ALA. Scotiabank raised their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. TD Securities raised their price target on shares of AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. National Bankshares raised their price target on shares of AltaGas from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Finally, Jefferies Financial Group set a C$34.00 price target on shares of AltaGas and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$34.15.

AltaGas Stock Performance

ALA opened at C$30.36 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.89 and a debt-to-equity ratio of 125.64. The company has a market cap of C$8.97 billion, a price-to-earnings ratio of 13.43, a PEG ratio of -4.97 and a beta of 1.22. AltaGas has a 52-week low of C$22.57 and a 52-week high of C$30.55. The firm’s fifty day simple moving average is C$29.47 and its two-hundred day simple moving average is C$28.15.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Friday, March 8th. The company reported C$0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.75. The business had revenue of C$3.29 billion for the quarter, compared to the consensus estimate of C$4.11 billion. AltaGas had a net margin of 5.18% and a return on equity of 8.90%. Equities analysts anticipate that AltaGas will post 2.1549815 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Randy Warren Toone sold 40,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$29.18, for a total transaction of C$1,167,200.00. In other AltaGas news, Director Jeremy Jason Weatherhead sold 12,215 shares of AltaGas stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$29.60, for a total transaction of C$361,564.00. Also, Senior Officer Randy Warren Toone sold 40,000 shares of AltaGas stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$29.18, for a total transaction of C$1,167,200.00. Over the last ninety days, insiders sold 68,239 shares of company stock worth $2,002,672. Insiders own 0.57% of the company’s stock.

AltaGas Company Profile

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 franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.