AltaGas (TSE:ALA) Stock Gets Price Target Increase from National Bank Financial

Key Points

• National Bank Financial raised AltaGas’s price target from C$60 to C$61 while maintaining an “outperform” rating, implying approximately 9.9% upside.
• Several other analysts also increased their targets, with AltaGas receiving a “Moderate Buy” consensus rating and an average target price of C$58.10 based on seven Buy ratings and one Hold.
• AltaGas shares fell 1.3% to C$55.51, while the company reported quarterly EPS of C$0.29 and revenue of C$3.43 billion.

AltaGas (TSE:ALA - Get Free Report) had its price target lifted by research analysts at National Bank Financial from C$60.00 to C$61.00 in a note issued to investors on Friday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 9.89% from the company's current price.

ALA has been the topic of a number of other reports. Scotia boosted their price target on AltaGas from C$61.00 to C$63.00 and gave the company a "sector outperform" rating in a report on Friday. ATB Cormark Capital Markets lifted their target price on AltaGas from C$60.00 to C$63.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Royal Bank Of Canada upped their price target on AltaGas from C$55.00 to C$59.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Scotiabank boosted their price objective on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets increased their target price on shares of AltaGas from C$54.00 to C$59.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, AltaGas presently has an average rating of "Moderate Buy" and an average target price of C$58.10.

AltaGas Stock Down 1.3%

ALA traded down C$0.71 during trading on Friday, reaching C$55.51. The company had a trading volume of 407,940 shares, compared to its average volume of 955,582. The company has a debt-to-equity ratio of 112.99, a current ratio of 0.86 and a quick ratio of 0.43. AltaGas has a 12 month low of C$39.45 and a 12 month high of C$58.14. The business's fifty day moving average price is C$53.91 and its 200 day moving average price is C$50.94. The company has a market cap of C$17.32 billion, a P/E ratio of 28.04, a PEG ratio of -4.97 and a beta of 0.32.

AltaGas (TSE:ALA - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported C$0.29 earnings per share (EPS) for the quarter. The company had revenue of C$3.43 billion during the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. Equities analysts anticipate that AltaGas will post 2.30 EPS for the current year.

AltaGas Company Profile

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.

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