AltaGas (TSE:ALA) Price Target Raised to C$50.00 at Royal Bank Of Canada

AltaGas (TSE:ALA) had its price target hoisted by analysts at Royal Bank Of Canada from C$48.00 to C$50.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 5.40% from the company’s current price.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group increased their price target on AltaGas from C$49.00 to C$53.00 in a research note on Monday. Canadian Imperial Bank of Commerce upped their target price on AltaGas from C$47.00 to C$50.00 in a report on Wednesday, December 17th. National Bank Financial increased their target price on AltaGas from C$50.00 to C$51.00 and gave the company an “outperform” rating in a research report on Monday. ATB Cormark Capital Markets lifted their price target on AltaGas from C$49.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$49.89.

AltaGas Price Performance

Shares of AltaGas stock traded up C$1.16 during midday trading on Monday, hitting C$47.44. 4,602,333 shares of the company traded hands, compared to its average volume of 879,069. The firm’s fifty day moving average price is C$42.96 and its 200-day moving average price is C$42.43. The stock has a market cap of C$14.76 billion, a price-to-earnings ratio of 19.05, a PEG ratio of -4.97 and a beta of 0.49. AltaGas has a 12 month low of C$35.33 and a 12 month high of C$48.32. The company has a debt-to-equity ratio of 126.46, a quick ratio of 0.44 and a current ratio of 0.88.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Friday, March 6th. The company reported C$0.77 EPS for the quarter. AltaGas had a net margin of 6.15% and a return on equity of 8.78%. The business had revenue of C$3.29 billion during the quarter. As a group, sell-side analysts forecast that AltaGas will post 2.3006093 earnings per share for the current 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.