CIBC Raises AltaGas (TSE:ALA) Price Target to C$46.00

AltaGas (TSE:ALA) had its price objective lifted by equities researchers at CIBC from C$44.00 to C$46.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 7.93% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. National Bankshares lifted their price target on shares of AltaGas from C$44.00 to C$45.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. TD Securities lifted their price target on shares of AltaGas from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. ATB Capital lifted their price target on shares of AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Jefferies Financial Group lifted their price target on shares of AltaGas from C$40.00 to C$46.00 in a research report on Wednesday, July 23rd. Finally, Scotiabank lifted their price target on shares of AltaGas from C$46.00 to C$48.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$44.89.

AltaGas Price Performance

Shares of ALA stock opened at C$42.62 on Thursday. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The firm’s 50-day moving average is C$41.85 and its two-hundred day moving average is C$39.93. AltaGas has a 12 month low of C$32.02 and a 12 month high of C$43.81. The company has a market capitalization of C$12.75 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of -4.97 and a beta of 0.13.

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.