Altagas’ (ALA) “Market Perform” Rating Reiterated at Raymond James

Altagas (TSE:ALA)‘s stock had its “market perform” rating restated by stock analysts at Raymond James in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. They currently have a C$19.00 price target on the stock. Raymond James’ price objective points to a potential downside of 6.95% from the company’s current price.

ALA has been the topic of a number of other research reports. National Bank Financial lifted their target price on Yamana Gold from C$4.25 to C$4.50 in a research report on Tuesday. Royal Bank of Canada reduced their target price on Snc-Lavalin Group from C$40.00 to C$34.00 and set an “outperform” rating for the company in a research note on Tuesday. BMO Capital Markets restated a “buy” rating on shares of Gran Tierra Energy in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upped their target price on Masonite International from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, Cormark downgraded Source Energy Services from a “buy” rating to a “market perform” rating and cut their target price for the company from C$2.00 to C$1.75 in a research report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of C$20.32.

Shares of ALA stock opened at C$20.42 on Tuesday. The business’s fifty day simple moving average is C$19.72. The company has a market capitalization of $5.66 billion and a PE ratio of 19.63. Altagas has a 52 week low of C$11.87 and a 52 week high of C$27.32. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 111.23.

Altagas (TSE:ALA) last issued its earnings results on Thursday, May 2nd. The company reported C$0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.62 by C$0.11. The company had revenue of C$1.90 billion for the quarter, compared to the consensus estimate of C$1.63 billion. Equities research analysts forecast that Altagas will post 1.1199999 earnings per share for the current year.

Altagas Company Profile

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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Analyst Recommendations for Altagas (TSE:ALA)

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