BMO Capital Markets Issues Positive Forecast for AltaGas (TSE:ALA) Stock Price

AltaGas (TSE:ALA) had its price objective hoisted by analysts at BMO Capital Markets from C$54.00 to C$59.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 4.96% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AltaGas from C$49.00 to C$52.00 in a research note on Tuesday, April 14th. Royal Bank Of Canada boosted their price target on AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank boosted their price objective on shares of AltaGas from C$57.00 to C$62.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 21st. National Bank Financial lifted their price target on AltaGas from C$52.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, ATB Cormark Capital Markets upped their price objective on AltaGas from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, AltaGas presently has a consensus rating of “Buy” and an average target price of C$56.56.

AltaGas Stock Performance

Shares of ALA stock traded up C$0.38 during midday trading on Friday, hitting C$56.21. 341,047 shares of the company were exchanged, compared to its average volume of 991,775. The firm has a market capitalization of C$17.51 billion, a P/E ratio of 34.27, a PEG ratio of -4.97 and a beta of 0.35. The company has a debt-to-equity ratio of 115.95, a quick ratio of 0.43 and a current ratio of 0.88. AltaGas has a 52 week low of C$39.45 and a 52 week high of C$57.52. The firm’s 50 day moving average price is C$54.46 and its two-hundred day moving average price is C$49.53.

AltaGas (TSE:ALA) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$3.80 billion during the quarter. AltaGas had a return on equity of 5.92% and a net margin of 4.02%. As a group, equities research analysts anticipate 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.