AltaGas (TSE:ALA) PT Raised to C$34.00

AltaGas (TSE:ALAGet Rating) had its price target hoisted by analysts at TD Securities from C$33.00 to C$34.00 in a research note issued on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 11.73% from the stock’s previous close.

Several other equities research analysts also recently commented on ALA. National Bankshares boosted their target price on AltaGas from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James boosted their target price on shares of AltaGas from C$32.00 to C$34.50 and gave the company an “outperform” rating in a research report on Friday. ATB Capital boosted their target price on shares of AltaGas from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of AltaGas from C$31.00 to C$34.00 in a research report on Tuesday, April 19th. Finally, CSFB boosted their target price on shares of AltaGas from C$31.00 to C$35.00 in a research report on Monday, April 11th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, AltaGas currently has an average rating of “Buy” and an average price target of C$33.50.

Shares of TSE ALA traded up C$0.15 during mid-day trading on Friday, hitting C$30.43. 488,915 shares of the stock traded hands, compared to its average volume of 764,877. The company has a debt-to-equity ratio of 114.82, a quick ratio of 0.69 and a current ratio of 1.11. AltaGas has a 52 week low of C$23.83 and a 52 week high of C$31.16. The company has a market cap of C$8.54 billion and a price-to-earnings ratio of 34.21. The stock has a fifty day moving average price of C$29.16 and a 200-day moving average price of C$27.51.

AltaGas (TSE:ALAGet Rating) last released 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 company had revenue of C$3.14 billion during the quarter, compared to the consensus estimate of C$1.53 billion. As a group, sell-side analysts predict that AltaGas will post 2.0031482 EPS for the current fiscal year.

AltaGas Company Profile (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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