National Bank Financial Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

AltaGas (TSE:ALA) had its price objective raised by National Bank Financial from C$52.00 to C$60.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 11.13% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group boosted their price objective on AltaGas from C$49.00 to C$53.00 in a research report on Monday, March 9th. ATB Cormark Capital Markets increased their price target on AltaGas from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. TD Securities increased their price target on AltaGas from C$48.00 to C$51.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Royal Bank Of Canada increased their price target on AltaGas from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Scotiabank increased their price target on AltaGas from C$54.00 to C$57.00 and gave the stock a “sector outperform” rating in a report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, AltaGas has a consensus rating of “Buy” and an average price target of C$54.25.

AltaGas Stock Performance

Shares of TSE:ALA traded up C$0.34 on Monday, hitting C$53.99. The company had a trading volume of 389,232 shares, compared to its average volume of 1,012,836. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 115.95. The stock has a 50 day moving average price of C$50.36 and a 200 day moving average price of C$45.71. AltaGas has a 1-year low of C$37.73 and a 1-year high of C$54.75. The stock has a market cap of C$16.82 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of -4.97 and a beta of 0.38.

AltaGas (TSE:ALA) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$1.33 earnings per share for the quarter. AltaGas had a net margin of 4.02% and a return on equity of 5.92%. The business had revenue of C$3.97 billion during the quarter. Analysts expect that AltaGas will post 2.3006093 EPS for the current year.

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. Natural gas is sold and purchased for both commercial and industrial users.