ATB Capital Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

Key Points

• ATB Capital raised the price target for AltaGas (TSE: ALA) from C$42.00 to C$43.00, indicating a potential upside of 4.95% from the company’s previous close.
• Other firms have also increased their price targets for AltaGas, with National Bankshares and JPMorgan Chase adjusting theirs to C$44.00 and C$41.00 respectively, while Jefferies Financial Group set a target of C$46.00.
• AltaGas's stock is currently rated as a "Moderate Buy" with an average target price of C$44.33 based on analyst ratings.

AltaGas (TSE:ALA - Get Free Report) had its target price upped by equities researchers at ATB Capital from C$42.00 to C$43.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Capital's price target points to a potential upside of 4.57% from the stock's previous close.

Several other brokerages also recently commented on ALA. Veritas raised shares of AltaGas to a "strong sell" rating in a research note on Friday, May 2nd. Royal Bank Of Canada upped their target price on AltaGas from C$40.00 to C$43.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. CIBC boosted their price objective on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on AltaGas from C$39.00 to C$41.00 in a research report on Monday, April 21st. Finally, Scotiabank upped their target price on shares of AltaGas from C$45.00 to C$46.00 and gave the company an "outperform" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$44.33.

AltaGas Trading Down 0.1%

Shares of TSE:ALA traded down C$0.04 during trading on Tuesday, reaching C$41.12. 152,329 shares of the company traded hands, compared to its average volume of 802,758. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. AltaGas has a 52-week low of C$32.02 and a 52-week high of C$42.03. The business's fifty day moving average is C$39.30 and its 200-day moving average is C$37.90. The firm has a market capitalization of C$12.24 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of -4.97 and a beta of 1.23.

About AltaGas

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.