AltaGas (TSE:ALA) Price Target Increased to C$34.50 by Analysts at Raymond James

AltaGas (TSE:ALAGet Rating) had its price objective raised by equities researchers at Raymond James from C$32.00 to C$34.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 13.37% from the company’s previous close.

Other analysts have also issued research reports about the company. TD Securities boosted their price target on AltaGas from C$32.00 to C$33.00 and gave the company a “buy” rating in a report on Friday, April 29th. Royal Bank of Canada boosted their price target on AltaGas from C$31.00 to C$33.00 and gave the company an “outperform” rating in a report on Friday, April 29th. Scotiabank boosted their price target on AltaGas from C$31.00 to C$33.00 in a report on Tuesday, April 19th. CIBC upped their price objective on AltaGas from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, April 21st. Finally, ATB Capital upped their price objective on AltaGas from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$33.50.

AltaGas stock traded up C$0.15 during mid-day trading on Friday, hitting C$30.43. The company had a trading volume of 488,915 shares, compared to its average volume of 764,877. The company has a current ratio of 1.11, a quick ratio of 0.69 and a debt-to-equity ratio of 114.82. The stock’s 50 day moving average price is C$29.16 and its two-hundred day moving average price is C$27.51. AltaGas has a 12 month low of C$23.83 and a 12 month high of C$31.16. The company has a market capitalization of C$8.54 billion and a PE ratio of 34.21.

AltaGas (TSE:ALAGet Rating) last posted its quarterly earnings results on Friday, March 4th. The company reported C$0.38 earnings per share for the quarter, missing the consensus estimate of C$0.40 by C($0.02). The firm had revenue of C$3.14 billion during the quarter, compared to analysts’ expectations of C$1.53 billion. Equities research analysts anticipate that AltaGas will post 2.0031482 EPS for the current year.

About AltaGas (Get Rating)

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 rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.7 million customers.

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Analyst Recommendations for AltaGas (TSE:ALA)

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