AltaGas (TSE:ALA) Given New C$41.00 Price Target at JPMorgan Chase & Co.

AltaGas (TSE:ALA - Get Free Report) had its target price increased by stock analysts at JPMorgan Chase & Co. from C$39.00 to C$41.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. JPMorgan Chase & Co.'s price target points to a potential upside of 4.38% from the company's previous close.

Several other research firms have also commented on ALA. Scotiabank raised their price target on shares of AltaGas from C$40.00 to C$42.00 in a report on Monday, March 10th. CIBC raised their target price 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 eight have issued a buy rating to the stock. Based on data from MarketBeat, AltaGas has an average rating of "Moderate Buy" and an average price target of C$39.56.

AltaGas Trading Down 1.8 %

Shares of TSE ALA traded down C$0.72 on Monday, reaching C$39.28. 141,365 shares of the company traded hands, compared to its average volume of 916,349. The stock has a market capitalization of C$11.69 billion, a PE ratio of 22.77, a P/E/G ratio of -4.97 and a beta of 1.23. AltaGas has a fifty-two week low of C$29.51 and a fifty-two week high of C$40.35. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 135.26. The company has a 50 day moving average of C$37.27 and a 200 day moving average of C$35.09.

AltaGas (TSE:ALA - Get Free Report) last announced its quarterly earnings results on Friday, March 7th. The company reported C$0.76 earnings per share for the quarter. AltaGas had a net margin of 4.04% and a return on equity of 6.36%. On average, equities research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AltaGas news, Senior Officer Randy Warren Toone sold 92,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of C$39.19, for a total transaction of C$3,605,480.00. Also, Senior Officer Corine Renae Knight Bushfield sold 144,064 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of C$38.00, for a total transaction of C$5,474,432.00. Insiders have sold a total of 398,414 shares of company stock valued at $15,302,227 in the last quarter. Company insiders own 0.58% of the company's stock.

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.

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