CIBC Raises AltaGas (TSE:ALA) Price Target to C$47.00

AltaGas (TSE:ALA) had its target price lifted by CIBC from C$46.00 to C$47.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 14.16% from the stock’s current price.

Other analysts have also recently issued reports about the stock. National Bankshares increased their target price on shares of AltaGas from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their price target on shares of AltaGas from C$44.00 to C$48.00 in a report on Friday. TD Securities lifted their price objective on AltaGas from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Scotiabank boosted their target price on AltaGas from C$46.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group raised their price target on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$45.67.

AltaGas Trading Up 0.8%

Shares of AltaGas stock opened at C$41.17 on Friday. AltaGas has a 12-month low of C$32.02 and a 12-month high of C$43.81. The company has a market cap of C$12.33 billion, a price-to-earnings ratio of 16.53, a PEG ratio of -4.97 and a beta of 0.13. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The company’s 50-day moving average price is C$42.07 and its 200-day moving average price is C$40.37.

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.