AltaGas (TSE:ALA) Rating Increased to Strong-Buy at TD Securities

AltaGas (TSE:ALA) was upgraded by analysts at TD Securities to a “strong-buy” rating in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a C$45.00 target price on the stock. TD Securities’ target price suggests a potential upside of 16.61% from the stock’s previous close.

Other research analysts have also issued research reports about the company. National Bankshares increased their target price on AltaGas from C$41.00 to C$44.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. 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. Veritas raised AltaGas to a “strong sell” rating in a research report on Friday, May 2nd. Jefferies Financial Group raised their price objective on AltaGas from C$38.00 to C$40.00 in a research report on Wednesday, April 30th. Finally, CIBC raised their price objective on AltaGas from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$41.70.

AltaGas Trading Up 0.5%

TSE ALA opened at C$38.59 on Friday. AltaGas has a fifty-two week low of C$30.51 and a fifty-two week high of C$40.98. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The stock has a 50 day simple moving average of C$38.61 and a two-hundred day simple moving average of C$36.65. The stock has a market cap of C$11.49 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

Insiders Place Their Bets

In other AltaGas news, Senior Officer Donald Mark Jenkins sold 1,800 shares of AltaGas stock in a transaction on Monday, May 5th. The stock was sold at an average price of C$39.02, for a total value of C$70,236.00. Also, Senior Officer Randy Warren Toone sold 92,000 shares of AltaGas stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of C$39.19, for a total value of C$3,605,480.00. In the last quarter, insiders sold 107,161 shares of company stock valued at $4,210,690. Corporate insiders own 0.58% of the company’s stock.

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.