AltaGas (TSE:ALA) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

AltaGas (TSE:ALA) had its price objective hoisted by stock analysts at BMO Capital Markets from C$40.00 to C$43.00 in a research note issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 6.97% from the company’s previous close.

A number of other analysts have also recently commented on ALA. JPMorgan Chase & Co. boosted their target price on shares of AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. Scotiabank boosted their price target on AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. Jefferies Financial Group lifted their target price on shares of AltaGas from C$38.00 to C$40.00 in a research note on Wednesday. Finally, CIBC increased their target price on shares of AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AltaGas currently has a consensus rating of “Moderate Buy” and an average price target of C$41.33.

AltaGas Price Performance

Shares of TSE ALA opened at C$40.20 on Friday. The firm has a market cap of C$11.97 billion, a P/E ratio of 23.30, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a 52 week low of C$29.67 and a 52 week high of C$40.98. The business’s 50 day moving average price is C$38.35 and its 200 day moving average price is C$35.53. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. On average, sell-side analysts expect that AltaGas will post 2.3006093 earnings per share for the current year.

Insider Transactions at AltaGas

In other AltaGas news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total value of C$5,474,432.00. Also, Senior Officer Randy Warren Toone sold 92,000 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of C$39.19, for a total transaction of C$3,605,480.00. Insiders sold 398,414 shares of company stock worth $15,302,227 in the last 90 days. Insiders own 0.58% of the company’s stock.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.