Scotiabank Increases AltaGas (TSE:ALA) Price Target to C$62.00

AltaGas (TSE:ALA) had its target price upped by analysts at Scotiabank from C$57.00 to C$62.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 10.28% from the stock’s previous close.

A number of other research firms have also recently weighed in on ALA. National Bank Financial upped their target price on shares of AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Royal Bank Of Canada lifted their price objective on AltaGas from C$50.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Finally, ATB Cormark Capital Markets increased their target price on AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$54.88.

AltaGas Stock Up 2.3%

ALA opened at C$56.22 on Tuesday. AltaGas has a fifty-two week low of C$39.45 and a fifty-two week high of C$56.74. The company has a debt-to-equity ratio of 115.95, a current ratio of 0.88 and a quick ratio of 0.43. The firm’s fifty day moving average price is C$54.10 and its two-hundred day moving average price is C$48.89. The company has a market capitalization of C$17.52 billion, a P/E ratio of 34.28, a P/E/G ratio of -4.97 and a beta of 0.35.

AltaGas (TSE:ALA) last announced its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 earnings per share (EPS) for the quarter. The company had revenue of C$3.97 billion during the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. On average, analysts anticipate 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. Natural gas is sold and purchased for both commercial and industrial users.