AltaGas (TSE:ALA) PT Raised to C$39.00 at National Bankshares

AltaGas (TSE:ALA) had its price objective increased by investment analysts at National Bankshares from C$36.00 to C$39.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price objective would indicate a potential upside of 15.11% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on ALA. Scotiabank raised their target price on AltaGas from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price target on shares of AltaGas from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Jefferies Financial Group upped their price target on shares of AltaGas from C$34.00 to C$37.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada upped their target price on shares of AltaGas from C$34.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of AltaGas from C$33.00 to C$36.00 in a report on Friday, July 19th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$37.10.

AltaGas Price Performance

AltaGas stock opened at C$33.88 on Friday. The business has a 50 day simple moving average of C$31.83 and a 200 day simple moving average of C$30.36. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The company has a market capitalization of C$10.08 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of -4.97 and a beta of 1.25. AltaGas has a one year low of C$24.67 and a one year high of C$33.94.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion during the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. On average, sell-side analysts forecast that AltaGas will post 2.1102066 EPS for the current fiscal year.

Insider Buying and Selling

In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. In related news, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total transaction of C$665,555.60. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. In the last quarter, insiders acquired 20,500 shares of company stock valued at $627,795 and sold 73,970 shares valued at $2,333,643. Corporate insiders own 0.58% of the company’s stock.

About AltaGas

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.