TD Securities Forecasts Strong Price Appreciation for AltaGas (TSE:ALA) Stock

AltaGas (TSE:ALA) had its target price increased by TD Securities from C$45.00 to C$48.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 16.62% from the stock’s previous close.

A number of other research analysts have also recently issued reports on ALA. Jefferies Financial Group raised their price objective on AltaGas from C$40.00 to C$46.00 in a research note on Wednesday, July 23rd. Scotiabank lifted their price target on AltaGas from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Royal Bank Of Canada boosted their price objective on AltaGas from C$40.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. CIBC increased their price objective on AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets lifted their target price on shares of AltaGas from C$40.00 to C$43.00 in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AltaGas currently has an average rating of “Moderate Buy” and an average target price of C$44.33.

AltaGas Price Performance

ALA stock opened at C$41.16 on Tuesday. The firm has a market cap of C$12.25 billion, a P/E ratio of 23.86, a P/E/G ratio of -4.97 and a beta of 1.23. The firm’s fifty day moving average is C$39.30 and its 200 day moving average is C$37.90. AltaGas has a 52 week low of C$32.02 and a 52 week high of C$42.03. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

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.