ATB Cormark Capital Markets Forecasts Strong Price Appreciation for AltaGas (TSE:ALA) Stock
by Jessica Moore · The Cerbat GemAltaGas (TSE:ALA – Get Free Report) had its price target lifted by equities research analysts at ATB Cormark Capital Markets from C$52.00 to C$54.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price points to a potential upside of 8.39% from the company’s previous close.
A number of other analysts also recently issued reports on ALA. JPMorgan Chase & Co. raised their price objective on AltaGas from C$49.00 to C$52.00 in a research report on Tuesday, April 14th. Scotiabank raised their target price on AltaGas from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Royal Bank Of Canada raised their target price on AltaGas from C$48.00 to C$50.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Jefferies Financial Group raised their target price on AltaGas from C$49.00 to C$53.00 in a report on Monday, March 9th. Finally, National Bank Financial raised their target price on AltaGas from C$50.00 to C$51.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AltaGas currently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.89.
Check Out Our Latest Research Report on AltaGas
AltaGas Trading Up 3.3%
Shares of TSE:ALA traded up C$1.61 during midday trading on Thursday, reaching C$49.82. 235,058 shares of the company’s stock were exchanged, compared to its average volume of 1,006,737. The firm’s 50 day simple moving average is C$47.48 and its two-hundred day simple moving average is C$43.92. The company has a debt-to-equity ratio of 118.25, a current ratio of 0.82 and a quick ratio of 0.44. The stock has a market cap of C$15.50 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of -4.97 and a beta of 0.34. AltaGas has a fifty-two week low of C$37.08 and a fifty-two week high of C$50.27.
AltaGas (TSE:ALA – Get Free Report) last issued its quarterly earnings data on Friday, March 6th. The company reported C$0.77 earnings per share (EPS) for the quarter. The firm had revenue of C$3.29 billion during the quarter. AltaGas had a return on equity of 8.74% and a net margin of 6.14%. As a group, sell-side analysts forecast that AltaGas will post 2.3006093 EPS for the current fiscal year.
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. Natural gas is sold and purchased for both commercial and industrial users.