TD Securities Boosts AltaGas (TSE:ALA) Price Target to C$48.00

Key Points

• TD Securities has increased its price target for AltaGas from C$45.00 to C$48.00, indicating a potential upside of 17.16% from the stock's previous close.
• Other firms like Scotiabank and JPMorgan Chase have also raised their price objectives for AltaGas, reflecting a generally positive outlook from analysts.
• The stock is currently rated as a "Moderate Buy" by analysts, with seven firms giving buy ratings and one rating it as a sell.

AltaGas (TSE:ALA - Get Free Report) had its price target upped by equities researchers at TD Securities from C$45.00 to C$48.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' target price suggests a potential upside of 16.31% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. CIBC boosted their price objective on AltaGas from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. National Bankshares boosted their price objective on AltaGas from C$41.00 to C$44.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Jefferies Financial Group boosted their price objective on AltaGas from C$40.00 to C$46.00 in a research note on Wednesday, July 23rd. Veritas raised AltaGas to a "strong sell" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on AltaGas from C$39.00 to C$41.00 in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$44.33.

AltaGas Price Performance

Shares of TSE:ALA traded down C$0.03 during trading on Tuesday, reaching C$41.27. The stock had a trading volume of 298,216 shares, compared to its average volume of 801,638. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The business has a fifty day moving average price of C$39.41 and a 200-day moving average price of C$38.02. The stock has a market cap of C$12.29 billion, a PE ratio of 23.92, a PEG 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.

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.