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

AltaGas (TSE:ALA) had its price target lifted by analysts at Scotiabank from C$38.00 to C$39.00 in a report issued on Thursday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 15.69% from the company’s previous close.

Several other equities research analysts also recently issued reports on ALA. Raymond James raised their price target on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. ATB Capital set a C$36.00 price target on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. BMO Capital Markets increased their price objective on AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. Jefferies Financial Group raised their price objective on shares of AltaGas from C$37.00 to C$39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, National Bankshares upped their target price on shares of AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$38.10.

AltaGas Stock Down 0.9 %

Shares of AltaGas stock opened at C$33.71 on Thursday. AltaGas has a 12-month low of C$24.67 and a 12-month high of C$35.77. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. The stock has a 50 day moving average price of C$34.04 and a two-hundred day moving average price of C$31.79. The stock has a market capitalization of C$10.03 billion, a P/E ratio of 23.25, a PEG ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.02. AltaGas had a net margin of 3.58% and a return on equity of 5.78%. The business had revenue of C$2.78 billion during the quarter, compared to the consensus estimate of C$2.54 billion. Equities analysts expect that AltaGas will post 2.3006093 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total value of C$252,075.00. In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$33.82, for a total transaction of C$101,460.00. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of AltaGas stock in a transaction dated 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 have sold 33,320 shares of company stock worth $1,125,051. Corporate insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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.