AltaGas (TSE:ALA) Price Target Raised to C$45.00

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 lifted by 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 indicate a potential upside of 9.44% from the company's current price.

A number of other brokerages also recently commented on ALA. CIBC upped 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 report on Friday, May 2nd. Jefferies Financial Group increased their price objective on shares of AltaGas from C$40.00 to C$46.00 in a research note on Wednesday, July 23rd. ATB Capital increased their price objective on AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research note on Tuesday. Veritas upgraded AltaGas to a "strong sell" rating in a report on Friday, May 2nd. Finally, Scotiabank boosted their price objective 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$44.33.

AltaGas Stock Down 0.1%

TSE:ALA traded down C$0.04 during midday trading on Tuesday, hitting C$41.12. 152,329 shares of the company were exchanged, compared to its average volume of 802,758. The company has a fifty day simple moving average of C$39.30 and a 200 day simple moving average of C$37.90. 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 fifty-two week low of C$32.02 and a fifty-two week high of C$42.03. The company has a market capitalization of C$12.24 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

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.