AltaGas (TSE:ALA) Stock Price Expected to Rise, Scotiabank Analyst Says

AltaGas (TSE:ALA) had its target price raised by investment analysts at Scotiabank from C$48.00 to C$50.00 in a research note issued on Tuesday,BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 21.33% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada increased their price target on shares of AltaGas from C$44.00 to C$48.00 in a research report on Friday, October 31st. CIBC increased their target price on shares of AltaGas from C$46.00 to C$47.00 in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Finally, Jefferies Financial Group upped their price target on shares of AltaGas from C$47.00 to C$48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.44.

AltaGas Trading Up 1.4%

Shares of ALA opened at C$41.21 on Tuesday. AltaGas has a twelve month low of C$32.04 and a twelve month high of C$44.37. The stock has a market cap of C$12.82 billion, a PE ratio of 16.55, a P/E/G ratio of -4.97 and a beta of 0.35. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The business’s 50-day moving average price is C$42.31 and its 200-day moving average price is C$41.17.

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

About AltaGas

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.