AltaGas (TSE:ALA) Stock Price Expected to Rise, National Bank Financial Analyst Says

AltaGas (TSE:ALA) had its price objective raised by investment analysts at National Bank Financial from C$60.00 to C$61.00 in a research note issued to investors on Friday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial‘s price objective would suggest a potential upside of 9.89% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Canadian Imperial Bank of Commerce downgraded AltaGas from an “outperformer” rating to a “hold” rating and set a C$58.00 price target on the stock. in a research report on Thursday, October 22nd. Scotia lifted their target price on shares of AltaGas from C$61.00 to C$63.00 and gave the stock a “sector outperform” rating in a report on Friday. ATB Cormark Capital Markets upped their price target on shares of AltaGas from C$60.00 to C$63.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their price target on shares of AltaGas from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Scotiabank raised their price objective on shares of AltaGas from C$57.00 to C$62.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$58.10.

AltaGas Stock Performance

ALA stock traded down C$0.71 during trading hours on Friday, reaching C$55.51. The stock had a trading volume of 407,940 shares, compared to its average volume of 955,582. The stock has a 50-day simple moving average of C$53.91 and a 200 day simple moving average of C$50.94. AltaGas has a fifty-two week low of C$39.45 and a fifty-two week high of C$58.14. The stock has a market capitalization of C$17.32 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of -4.97 and a beta of 0.32. The company has a debt-to-equity ratio of 112.99, a current ratio of 0.86 and a quick ratio of 0.43.

AltaGas (TSE:ALA) last released its quarterly earnings data on Thursday, October 29th. The company reported C$0.29 earnings per share for the quarter. The company had revenue of C$3.43 billion for the quarter. AltaGas had a net margin of 4.59% and a return on equity of 7.00%. Analysts predict that AltaGas will post 2.30 EPS for the current fiscal year.

AltaGas Company Profile

AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.