ATB Capital Raises AltaGas (TSE:ALA) Price Target to C$43.00

AltaGas (TSE:ALA) had its price target upped by research analysts at ATB Capital from C$42.00 to C$43.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s price target points to a potential upside of 4.47% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of AltaGas from C$39.00 to C$41.00 in a report on Monday, April 21st. CIBC upped their target price on AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. BMO Capital Markets raised their target price on AltaGas from C$40.00 to C$43.00 in a research note on Friday, May 2nd. Jefferies Financial Group lifted their price target on AltaGas from C$40.00 to C$46.00 in a research report on Wednesday, July 23rd. Finally, Scotiabank increased their price objective on AltaGas from C$45.00 to C$46.00 and gave the company an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.33.

AltaGas Stock Performance

ALA opened at C$41.16 on Tuesday. The firm’s 50-day moving average price is C$39.30 and its 200-day moving average price is C$37.90. The company has a market cap of C$12.25 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. 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 has a 52-week low of C$32.02 and a 52-week high of C$42.03.

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.