AltaGas (TSE:ALA) Given New C$39.00 Price Target at Scotiabank

AltaGas (TSE:ALA - Get Free Report) had its price objective raised by equities research analysts at Scotiabank from C$38.00 to C$39.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has an "outperform" rating on the stock.

Other research analysts also recently issued research reports about the company. National Bankshares boosted their price target on AltaGas from C$36.00 to C$39.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. CIBC upped their target price on AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. ATB Capital set a C$36.00 price target on AltaGas and gave the stock an "outperform" rating in a research note on Tuesday, September 24th. Raymond James boosted their price objective on shares of AltaGas from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets upped their price objective on shares of AltaGas from C$37.00 to C$40.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, AltaGas has a consensus rating of "Moderate Buy" and an average target price of C$38.10.

AltaGas Stock Performance

The company has a market cap of C$10.12 billion, a price-to-earnings ratio of 23.28, a PEG ratio of -4.97 and a beta of 1.23. AltaGas has a 52 week low of C$24.67 and a 52 week high of C$35.77. The firm has a fifty day moving average of C$34.01 and a 200-day moving average of C$31.76. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85.

AltaGas (TSE:ALA - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.02. The firm had revenue of C$2.78 billion during the quarter, compared to the consensus estimate of C$2.54 billion. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. As a group, equities research analysts forecast that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total value of C$105,960.00. In related news, Senior Officer Randy Warren Toone sold 3,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00. Also, Director Aaron Bishop sold 19,820 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total transaction of C$665,555.60. Over the last ninety days, insiders sold 33,320 shares of company stock worth $1,125,051. Insiders own 0.58% of the company's stock.

About AltaGas

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.