ATB Capital Forecasts Strong Price Appreciation for AltaGas (TSE:ALA) Stock

AltaGas (TSE:ALA) had its target price upped by analysts at ATB Capital from C$48.00 to C$49.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s price objective would indicate a potential upside of 16.20% from the company’s previous close.

ALA has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on AltaGas from C$45.00 to C$47.00 in a research report on Wednesday, December 3rd. Jefferies Financial Group upped their target price on shares of AltaGas from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Scotiabank lifted their price target on shares of AltaGas from C$48.00 to C$50.00 in a research note on Tuesday, December 16th. Royal Bank Of Canada boosted their price target on shares of AltaGas from C$44.00 to C$48.00 in a report on Friday, October 31st. Finally, CIBC increased their price objective on shares of AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$48.11.

AltaGas Price Performance

ALA opened at C$42.17 on Tuesday. The stock’s 50-day moving average price is C$42.24 and its 200 day moving average price is C$41.29. AltaGas has a 12-month low of C$32.14 and a 12-month high of C$44.37. The firm has a market cap of C$13.12 billion, a price-to-earnings ratio of 16.94, a PEG ratio of -4.97 and a beta of 0.35. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA) last released its earnings results on Thursday, October 30th. The company reported C($0.08) earnings per share for the quarter. The firm had revenue of C$2.60 billion during the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. As a group, sell-side analysts expect that AltaGas will post 2.3006093 earnings per share 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. Natural gas is sold and purchased for both commercial and industrial users.