Scotiabank Boosts AltaGas (TSE:ALA) Price Target to C$40.00

AltaGas (TSE:ALA - Get Free Report) had its price objective lifted by analysts at Scotiabank from C$39.00 to C$40.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price objective indicates a potential upside of 15.94% from the stock's current price.

A number of other equities research analysts also recently weighed in on ALA. CIBC lifted their target price on AltaGas from C$40.00 to C$42.00 and gave the stock an "outperform" rating in a report on Thursday, January 9th. JPMorgan Chase & Co. lowered shares of AltaGas from an "overweight" rating to a "neutral" rating and increased their target price for the stock from C$36.00 to C$37.00 in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$38.40.

AltaGas Stock Performance

Shares of TSE ALA traded down C$0.56 during midday trading on Thursday, hitting C$34.50. 538,545 shares of the company's stock were exchanged, compared to its average volume of 692,709. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 135.26. The company's 50 day moving average price is C$33.79 and its 200 day moving average price is C$33.74. AltaGas has a 12 month low of C$27.36 and a 12 month high of C$35.77. The firm has a market capitalization of C$10.27 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of -4.97 and a beta of 1.23.

Insider Activity at AltaGas

In related news, Senior Officer Donald Mark Jenkins sold 12,352 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of C$33.90, for a total value of C$418,732.80. Also, Senior Officer Vernon Dai-Chung Yu purchased 7,600 shares of the firm's stock in a transaction on Friday, December 13th. The shares were acquired at an average price of C$32.97 per share, with a total value 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.