AltaGas (TSE:ALA – Get Free Report) had its price target upped by equities research analysts at Scotiabank to C$39.00 in a report issued on Thursday, Stock Target Advisor reports. Scotiabank’s price objective points to a potential upside of 15.90% from the company’s previous close.
ALA has been the topic of a number of other reports. CIBC upped their price target on AltaGas from C$38.00 to C$40.00 in a research report on Monday, July 15th. ATB Capital set a C$36.00 price target on AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and upped their price target for the company from C$36.00 to C$37.00 in a research report on Wednesday. National Bankshares increased their target price on AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada increased their target price on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, AltaGas presently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.10.
Check Out Our Latest Analysis on ALA
AltaGas Stock Performance
AltaGas (TSE:ALA – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. The business had revenue of C$2.78 billion for the quarter, compared to analysts’ expectations of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. Equities analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.
Insider Activity
In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total transaction of C$252,075.00. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. Insiders have sold 33,320 shares of company stock valued at $1,125,051 over the last 90 days. 0.58% of the stock is owned by company insiders.
About AltaGas
AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.
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