AltaGas (TSE:ALA) Given a C$36.00 Price Target by ATB Capital Analysts

AltaGas (TSE:ALA) has been given a C$36.00 target price by ATB Capital in a research report issued on Tuesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Capital’s target price points to a potential upside of 7.59% from the company’s previous close.

A number of other research firms also recently weighed in on ALA. National Bankshares increased their target price on AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Raymond James upped their price target on AltaGas from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. CIBC upped their price target on AltaGas from C$38.00 to C$40.00 in a research report on Monday, July 15th. Royal Bank of Canada upped their price target on AltaGas from C$34.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets upped their price target on AltaGas from C$37.00 to C$40.00 in a research report on Thursday, September 5th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$37.40.

AltaGas Stock Up 0.7 %

ALA stock opened at C$33.46 on Tuesday. AltaGas has a fifty-two week low of C$24.67 and a fifty-two week high of C$35.49. The business’s 50-day moving average is C$33.27 and its two-hundred day moving average is C$31.19. The company has a debt-to-equity ratio of 115.50, a quick ratio of 0.44 and a current ratio of 0.85. The company has a market cap of C$9.95 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of -4.97 and a beta of 1.24.

AltaGas (TSE:ALA) last posted its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. The company had revenue of C$2.78 billion for the quarter, compared to the consensus estimate of C$2.54 billion. As a group, analysts forecast that AltaGas will post 2.299654 earnings per share for the current year.

Insider Buying and Selling

In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’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 transaction of C$105,960.00. In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’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 transaction of C$105,960.00. Also, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. Over the last 90 days, insiders sold 33,320 shares of company stock worth $1,125,051. 0.58% of the stock is owned by corporate insiders.

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.