Scotiabank Increases AltaGas (TSE:ALA) Price Target to C$48.00

Key Points

• Scotiabank has raised the price target for AltaGas from C$46.00 to C$48.00, indicating a potential upside of 11.09% based on the company's previous close.
• The stock currently has an average rating of "Moderate Buy" and a consensus target price of C$44.56 from several analysts, with most rating it as a "Buy."
• In recent trading, shares of AltaGas experienced a slight decline, closing at C$43.21 amidst a trading volume lower than its average.

AltaGas (TSE:ALA - Get Free Report) had its price objective lifted by equities research analysts at Scotiabank from C$46.00 to C$48.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's target price points to a potential upside of 11.09% from the company's previous close.

ALA has been the topic of a number of other reports. ATB Capital lifted their price target on AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on shares of AltaGas from C$43.00 to C$44.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Jefferies Financial Group raised their price objective on AltaGas from C$40.00 to C$46.00 in a research note on Wednesday, July 23rd. TD Securities upped their target price on shares of AltaGas from C$45.00 to C$48.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, National Bankshares increased their price target on AltaGas from C$44.00 to C$45.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AltaGas presently has an average rating of "Moderate Buy" and a consensus target price of C$44.56.

AltaGas Price Performance

Shares of ALA traded down C$0.23 during midday trading on Monday, hitting C$43.21. The company's stock had a trading volume of 114,706 shares, compared to its average volume of 807,344. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. AltaGas has a one year low of C$32.02 and a one year high of C$43.81. The stock has a market capitalization of C$12.93 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of -4.97 and a beta of 0.13. The company's fifty day simple moving average is C$41.66 and its two-hundred day simple moving average is C$39.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.