AltaGas (TSE:ALA) Price Target Raised to C$46.00

AltaGas (TSE:ALA - Get Free Report) had its price target boosted by stock analysts at Jefferies Financial Group from C$40.00 to C$46.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Jefferies Financial Group's price objective indicates a potential upside of 14.37% from the stock's current price.

Several other analysts have also issued reports on ALA. BMO Capital Markets upped their price target on shares of AltaGas from C$40.00 to C$43.00 in a research report on Friday, May 2nd. Royal Bank Of Canada raised their price target on shares of AltaGas from C$40.00 to C$43.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. CIBC raised their price target on shares of AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Scotiabank increased their price objective on shares of AltaGas from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$42.30.

AltaGas Trading Down 0.1%

Shares of ALA traded down C$0.04 on Wednesday, reaching C$40.22. 383,401 shares of the company's stock were exchanged, compared to its average volume of 815,708. AltaGas has a 12 month low of C$31.67 and a 12 month high of C$41.13. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The stock has a market capitalization of C$11.97 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23. The business has a 50 day moving average price of C$38.81 and a two-hundred day moving average price of C$37.55.

Insider Buying and Selling

In other news, Senior Officer Donald Mark Jenkins sold 1,800 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of C$39.02, for a total transaction of C$70,236.00. 0.58% of the stock is owned by insiders.

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.