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

AltaGas (TSE:ALA) had its price objective upped by research analysts at Scotiabank from C$33.00 to C$35.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 15.28% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada lifted their price objective on AltaGas from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday. TD Securities boosted their price target on AltaGas from C$32.00 to C$34.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Jefferies Financial Group set a C$34.00 price objective on AltaGas and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, National Bankshares lifted their price objective on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$34.15.

AltaGas Stock Down 0.1 %

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

AltaGas (TSE:ALA) last released its quarterly earnings data on Friday, March 8th. The company reported C$0.75 EPS for the quarter, hitting analysts’ consensus estimates of C$0.75. The company had revenue of C$3.29 billion during 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%. On average, analysts anticipate that AltaGas will post 2.1549815 EPS for the current year.

Insider Activity at AltaGas

In other AltaGas news, Senior Officer Randy Warren Toone sold 40,000 shares of the 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 the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of C$29.60, for a total value of C$361,564.00. Also, Senior Officer Randy Warren Toone sold 40,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$29.18, for a total value of C$1,167,200.00. Insiders sold 68,239 shares of company stock valued at $2,002,672 over the last ninety days. 0.57% of the stock is owned by insiders.

About AltaGas

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.