TD Securities Forecasts Strong Price Appreciation for AltaGas (TSE:ALA) Stock

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 target price raised by TD Securities from C$45.00 to C$48.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' price objective indicates a potential upside of 16.73% from the company's current price.

ALA has been the topic of a number of other research reports. Jefferies Financial Group boosted their target price on shares of AltaGas from C$40.00 to C$46.00 in a research note on Wednesday, July 23rd. Scotiabank lifted their price target on AltaGas from C$42.00 to C$45.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. CIBC raised their price objective on shares of AltaGas from C$42.00 to C$43.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. National Bankshares boosted their target price on shares of AltaGas from C$41.00 to C$44.00 and gave the stock an "outperform" rating in a report 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 investment 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, AltaGas presently has an average rating of "Moderate Buy" and a consensus price target of C$44.33.

AltaGas Price Performance

ALA traded down C$0.04 during trading on Tuesday, hitting C$41.12. 152,329 shares of the stock traded hands, compared to its average volume of 802,758. The business has a 50 day moving average price of C$39.30 and a 200 day moving average price of C$37.90. AltaGas has a twelve month low of C$32.02 and a twelve month high of C$42.03. The company has a debt-to-equity ratio of 135.26, a current ratio of 1.03 and a quick ratio of 0.44. The company has a market cap of C$12.24 billion, a price-to-earnings ratio of 23.83, a PEG ratio of -4.97 and a beta of 1.23.

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.