National Bankshares Increases AltaGas (TSE:ALA) Price Target to C$33.00

AltaGas (TSE:ALA) had its price objective hoisted by equities researchers at National Bankshares from C$32.00 to C$33.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective would indicate a potential upside of 20.88% from the company’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada increased their price target on AltaGas from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. CSFB cut their target price on AltaGas from C$33.00 to C$32.50 in a research note on Tuesday, May 9th. ATB Capital boosted their target price on AltaGas from C$34.00 to C$35.00 in a research report on Friday. Finally, TD Securities cut their price target on shares of AltaGas from C$34.00 to C$32.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$32.08.

AltaGas Trading Up 3.3 %

Shares of ALA stock traded up C$0.88 on Friday, reaching C$27.30. 390,421 shares of the stock were exchanged, compared to its average volume of 820,426. The company has a debt-to-equity ratio of 110.58, a current ratio of 1.00 and a quick ratio of 0.44. AltaGas has a one year low of C$21.25 and a one year high of C$29.63. The stock has a market cap of C$7.69 billion, a PE ratio of 13.25, a P/E/G ratio of -4.97 and a beta of 1.30. The stock has a 50 day moving average price of C$25.03 and a 200 day moving average price of C$23.95.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Friday, July 28th. The company reported C$0.06 earnings per share for the quarter, missing the consensus estimate of C$0.09 by C($0.03). AltaGas had a return on equity of 9.08% and a net margin of 5.05%. The firm had revenue of C$2.63 billion for the quarter, compared to the consensus estimate of C$3.27 billion. Equities research analysts forecast that AltaGas will post 1.8762737 EPS for the current fiscal year.

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 1.7 million customers.