JPMorgan Chase & Co. Forecasts Strong Price Appreciation for AltaGas (TSE:ALA) Stock

AltaGas (TSE:ALA) had its price objective increased by analysts at JPMorgan Chase & Co. from C$45.00 to C$47.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 11.27% from the stock’s previous close.

ALA has been the subject of several other reports. Scotiabank upped their price objective on shares of AltaGas from C$46.00 to C$48.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Jefferies Financial Group boosted their price target on AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. National Bankshares increased their price objective on AltaGas from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Royal Bank Of Canada lifted their price objective on AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. Finally, TD Securities boosted their target price on AltaGas from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$46.33.

AltaGas Stock Down 1.7%

Shares of AltaGas stock opened at C$42.24 on Wednesday. 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 has a 52-week low of C$32.02 and a 52-week high of C$44.37. The stock has a market capitalization of C$12.65 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of -4.97 and a beta of 0.23. The company’s 50 day moving average price is C$42.57 and its 200-day moving average price is C$40.93.

AltaGas (TSE:ALA) last posted its quarterly earnings results on Thursday, October 30th. The company reported C($0.08) EPS for the quarter. The firm had revenue of C$2.60 billion for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. Equities research analysts forecast that AltaGas will post 2.3006093 EPS for the current year.

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.