National Bankshares Forecasts Strong Price Appreciation for AltaGas (TSE:ALA) Stock

AltaGas (TSE:ALA) had its price objective raised by investment analysts at National Bankshares from C$41.00 to C$44.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price would suggest a potential upside of 9.45% from the stock’s previous close.

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

AltaGas Stock Performance

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

AltaGas (TSE:ALA) last posted 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%. As a group, equities analysts predict that AltaGas will post 2.3006093 EPS for the current year.

Insider Activity at AltaGas

In related news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the firm’s stock in a transaction that occurred on 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, Director Derek Watson Evans bought 19,239 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of C$38.98 per share, for a total transaction of C$749,936.22. In the last 90 days, insiders have sold 398,414 shares of company stock worth $15,302,227. 0.58% of the stock is currently owned by company insiders.

About AltaGas

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.