AltaGas (TSE:ALA) Stock Price Expected to Rise, CIBC Analyst Says

AltaGas (TSE:ALA) had its price objective hoisted by CIBC from C$42.00 to C$43.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 6.97% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of AltaGas from C$39.00 to C$41.00 in a report on Monday, April 21st. Jefferies Financial Group boosted their price target on shares of AltaGas from C$38.00 to C$40.00 in a report on Wednesday. Finally, Scotiabank increased their price objective on shares of AltaGas from C$40.00 to C$42.00 in a research note on Monday, March 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AltaGas presently has an average rating of “Moderate Buy” and an average target price of C$41.33.

AltaGas Trading Down 0.0 %

TSE:ALA opened at C$40.20 on Friday. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. AltaGas has a one year low of C$29.67 and a one year high of C$40.98. The company has a market cap of C$11.97 billion, a PE ratio of 23.30, a PEG ratio of -4.97 and a beta of 1.23. The firm has a 50-day moving average of C$38.35 and a 200-day moving average of C$35.53.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Friday, March 7th. The company reported C$0.76 EPS for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, equities research analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

Insider Buying and Selling at AltaGas

In other AltaGas news, Director Peter James Ledig sold 13,361 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of C$40.04, for a total transaction of C$534,974.44. Also, Senior Officer Randy Warren Toone sold 92,000 shares of AltaGas stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of C$39.19, for a total value of C$3,605,480.00. Insiders have sold a total of 398,414 shares of company stock valued at $15,302,227 in the last 90 days. Corporate 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.