AltaGas (TSE:ALA) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

AltaGas (TSE:ALA) had its target price raised by equities research analysts at Royal Bank Of Canada from C$43.00 to C$44.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 6.90% from the company’s current price.

ALA has been the subject of a number of other research reports. BMO Capital Markets increased their price objective on shares of AltaGas from C$40.00 to C$43.00 in a research report on Friday, May 2nd. ATB Capital upped their price target on AltaGas from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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. TD Securities boosted their price objective on AltaGas from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Tuesday. Finally, CIBC increased their target price on AltaGas from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$44.33.

AltaGas Trading Up 0.9%

Shares of ALA stock opened at C$41.16 on Tuesday. AltaGas has a 1-year low of C$32.02 and a 1-year high of C$42.03. The firm has a market cap of C$12.25 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The company has a 50-day moving average of C$39.30 and a two-hundred day moving average of C$37.90. 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 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.