Scotiabank Boosts AltaGas (TSE:ALA) Price Target to C$42.00

AltaGas (TSE:ALA) had its price target increased by equities researchers at Scotiabank from C$40.00 to C$42.00 in a report released on Monday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 9.55% from the stock’s previous close.

Separately, CIBC boosted their price objective on shares of AltaGas from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.60.

AltaGas Stock Up 2.5 %

ALA stock traded up C$0.92 on Monday, hitting C$38.34. 1,181,630 shares of the company’s stock were exchanged, compared to its average volume of 795,851. AltaGas has a 12-month low of C$28.63 and a 12-month high of C$38.44. The firm has a 50 day moving average price of C$34.48 and a two-hundred day moving average price of C$34.08. The company has a debt-to-equity ratio of 135.26, a quick ratio of 0.44 and a current ratio of 1.03. The stock has a market cap of C$11.41 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

AltaGas (TSE:ALA) last issued its quarterly earnings data on Friday, March 7th. The company reported C$0.76 earnings per share (EPS) for the quarter. AltaGas had a return on equity of 6.36% and a net margin of 4.04%. As a group, equities research analysts expect that AltaGas will post 2.3006093 EPS for the current fiscal year.

Insider Buying and Selling at AltaGas

In related news, Senior Officer Donald Mark Jenkins sold 12,352 shares of AltaGas stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$33.90, for a total transaction of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of C$32.97 per share, for a total transaction of C$250,549.20. 0.58% of the stock is currently owned by company insiders.

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.