ATB Capital Reiterates C$36.00 Price Target for AltaGas (TSE:ALA)

AltaGas (TSE:ALA) received a C$36.00 price target from equities research analysts at ATB Capital in a research note issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s price target indicates a potential upside of 8.43% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets boosted their price objective on AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. Jefferies Financial Group lifted their target price on AltaGas from C$34.00 to C$37.00 and gave the company a “buy” rating in a research note on Monday, July 29th. CIBC increased their price target on shares of AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. Raymond James raised their target price on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price target 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, AltaGas currently has an average rating of “Buy” and an average price target of C$37.40.

AltaGas Stock Down 1.3 %

Shares of AltaGas stock traded down C$0.44 during trading on Tuesday, hitting C$33.20. 414,192 shares of the stock were exchanged, compared to its average volume of 891,795. The stock has a market cap of C$9.87 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of -4.97 and a beta of 1.24. The firm’s 50-day moving average price is C$33.17 and its 200 day moving average price is C$31.13. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. AltaGas has a 12-month low of C$24.67 and a 12-month high of C$35.49.

AltaGas (TSE:ALA) last posted its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, topping 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 analysts’ expectations of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%.

Insider Buying and Selling at AltaGas

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total transaction of C$252,075.00. In related news, Director Aaron Bishop sold 19,820 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of AltaGas stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total transaction of C$252,075.00. In the last three months, insiders sold 33,320 shares of company stock worth $1,125,051. 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.