Jefferies Financial Group Boosts AltaGas (TSE:ALA) Price Target to C$53.00

AltaGas (TSE:ALA) had its price target upped by Jefferies Financial Group from C$49.00 to C$53.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target would indicate a potential upside of 11.72% from the stock’s current price.

ALA has been the topic of several other research reports. Scotiabank increased their price target on AltaGas from C$48.00 to C$50.00 in a report on Tuesday, December 16th. National Bank Financial increased their price target on shares of AltaGas from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. ATB Cormark Capital Markets upped their price objective on AltaGas from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Canadian Imperial Bank of Commerce boosted their price objective on AltaGas from C$47.00 to C$50.00 in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of AltaGas from C$45.00 to C$47.00 in a research note on Wednesday, December 3rd. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$49.89.

AltaGas Stock Performance

Shares of TSE ALA traded up C$1.16 during mid-day trading on Monday, hitting C$47.44. The company had a trading volume of 4,602,333 shares, compared to its average volume of 879,069. AltaGas has a 1 year low of C$35.33 and a 1 year high of C$48.32. The stock’s 50-day moving average price is C$42.96 and its 200-day moving average price is C$42.43. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 126.46. The company has a market capitalization of C$14.76 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of -4.97 and a beta of 0.49.

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