AltaGas (TSE:ALA) Price Target Raised to C$40.00 at Jefferies Financial Group

AltaGas (TSE:ALA) had its price objective hoisted by investment analysts at Jefferies Financial Group from C$38.00 to C$40.00 in a report released on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential downside of 0.55% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Scotiabank boosted their price target on shares of AltaGas from C$40.00 to C$42.00 in a research report on Monday, March 10th. CIBC lifted their price objective on AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. increased their target price on AltaGas from C$39.00 to C$41.00 in a research report on Monday, April 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, AltaGas has a consensus rating of “Moderate Buy” and a consensus price target of C$39.67.

AltaGas Trading Down 1.4 %

Shares of ALA opened at C$40.22 on Wednesday. AltaGas has a fifty-two week low of C$29.51 and a fifty-two week high of C$40.98. The firm has a market cap of C$11.97 billion, a price-to-earnings ratio of 23.31, a PEG ratio of -4.97 and a beta of 1.23. The firm has a 50 day moving average price of C$38.24 and a 200-day moving average price of C$35.47. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03.

AltaGas (TSE:ALA) last issued its earnings results on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, equities research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current year.

Insider Transactions at AltaGas

In other news, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of C$38.00, for a total value of C$5,474,432.00. Also, Senior Officer Randy Warren Toone sold 92,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of C$39.19, for a total transaction of C$3,605,480.00. Over the last three months, insiders have sold 398,414 shares of company stock valued at $15,302,227. 0.58% of the stock is currently owned by company insiders.

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage.