AltaGas (TSE:ALA) PT Raised to C$38.00

AltaGas (TSE:ALA) had its price target lifted by investment analysts at CIBC from C$36.00 to C$38.00 in a report released on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would suggest a potential upside of 25.37% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. National Bankshares increased their target price on AltaGas from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank lifted their price target on AltaGas from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Jefferies Financial Group set a C$34.00 target price on AltaGas and gave the stock a “buy” rating in a research note on Tuesday, February 27th. ATB Capital boosted their target price on AltaGas from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Securities boosted their target price on AltaGas from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AltaGas currently has a consensus rating of “Buy” and a consensus price target of C$35.00.

AltaGas Stock Performance

TSE:ALA traded up C$0.09 on Friday, hitting C$30.31. The company’s stock had a trading volume of 236,298 shares, compared to its average volume of 777,258. The company has a current ratio of 1.01, a quick ratio of 0.44 and a debt-to-equity ratio of 117.56. The stock has a fifty day moving average of C$29.96 and a two-hundred day moving average of C$28.72. The firm has a market capitalization of C$8.98 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of -4.97 and a beta of 1.22. AltaGas has a one year low of C$22.62 and a one year high of C$30.95.

AltaGas (TSE:ALA) last released its quarterly earnings data on Thursday, May 2nd. The company reported C$1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.05 by C$0.09. The firm had revenue of C$3.66 billion for the quarter, compared to analyst estimates of C$4.13 billion. AltaGas had a return on equity of 7.93% and a net margin of 5.03%. Research analysts predict that AltaGas will post 2.1388695 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Randy Warren Toone sold 16,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total transaction of C$473,200.00. In other news, Senior Officer Randy Warren Toone sold 16,000 shares of AltaGas stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of C$29.58, for a total transaction of C$473,200.00. Also, Senior Officer James Harbilas sold 100,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of C$30.45, for a total transaction of C$3,045,000.00. Insiders have sold a total of 194,339 shares of company stock worth $5,843,722 over the last 90 days. 0.57% of the stock is currently owned by insiders.

AltaGas Company Profile

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.