AltaGas (TSE:ALA) Given New C$45.00 Price Target at National Bankshares

Key Points

• National Bankshares has raised AltaGas's price target from C$44.00 to C$45.00, indicating a potential upside of 9.84% from its previous closing price, and maintains an "outperform" rating on the stock.
• Multiple analysts, including Scotiabank and Jefferies Financial Group, have also increased their price targets for AltaGas, with a consensus of "Moderate Buy" and an average target price of C$44.33.
• As of the latest trading session, AltaGas shares were down C$0.31 at C$40.97, with a market cap of C$12.20 billion and a debt-to-equity ratio of 135.26.

AltaGas (TSE:ALA - Get Free Report) had its price target upped by equities researchers at National Bankshares from C$44.00 to C$45.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price objective would suggest a potential upside of 9.04% from the stock's current price.

ALA has been the topic of several other reports. CIBC increased their target price 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. Jefferies Financial Group increased their target price on shares of AltaGas from C$40.00 to C$46.00 in a research report on Wednesday, July 23rd. TD Securities increased their target price on shares of AltaGas from C$45.00 to C$48.00 and gave the stock a "buy" rating in a research report on Tuesday. BMO Capital Markets increased their target price on shares of AltaGas from C$40.00 to C$43.00 in a research report on Friday, May 2nd. Finally, Scotiabank increased their target price on shares of AltaGas from C$45.00 to C$46.00 and gave the stock an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, AltaGas currently has a consensus rating of "Moderate Buy" and a consensus price target of C$44.33.

AltaGas Stock Down 0.1%

AltaGas stock traded down C$0.03 during mid-day trading on Tuesday, hitting C$41.27. 298,216 shares of the company's stock were exchanged, compared to its average volume of 801,638. 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 cap of C$12.29 billion, a P/E ratio of 23.92, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a 1-year low of C$32.02 and a 1-year high of C$42.03. The stock has a 50 day moving average of C$39.41 and a two-hundred day moving average of C$38.02.

AltaGas Company Profile

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.