Jefferies Financial Group Increases AltaGas (TSE:ALA) Price Target to C$39.00

AltaGas (TSE:ALA) had its price target lifted by investment analysts at Jefferies Financial Group from C$37.00 to C$39.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock.

A number of other research analysts have also recently commented on ALA. 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. JPMorgan Chase & Co. upped their price target on AltaGas from C$33.00 to C$36.00 in a research report on Friday, July 19th. CIBC upped their price target on AltaGas from C$38.00 to C$40.00 in a research report on Monday, July 15th. Scotiabank upped their price target on AltaGas from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, ATB Capital set a C$36.00 price target on AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$37.60.

AltaGas Stock Performance

AltaGas has a 12-month low of C$24.67 and a 12-month high of C$35.49. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50. The stock has a 50 day moving average of C$33.42 and a two-hundred day moving average of C$31.27. The company has a market capitalization of C$9.98 billion, a PE ratio of 23.09, a P/E/G ratio of -4.97 and a beta of 1.24.

AltaGas (TSE:ALA) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 EPS 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 firm had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.54 billion. Equities research analysts forecast that AltaGas will post 2.299654 earnings per share for the current year.

Insider Activity

In other news, Director Aaron Bishop sold 19,820 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total transaction of C$665,555.60. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$33.61, for a total value of C$252,075.00. Insiders sold 33,320 shares of company stock valued at $1,125,051 in the last ninety days. Insiders own 0.58% of the company’s stock.

AltaGas Company Profile

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.