AltaGas (TSE:ALA) Given New C$39.00 Price Target at Jefferies Financial Group

AltaGas (TSE:ALA) had its price objective boosted by equities research analysts at Jefferies Financial Group from C$37.00 to C$39.00 in a report issued on Monday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock.

A number of other analysts have also issued reports on the company. Raymond James boosted their target price on AltaGas from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. ATB Capital set a C$36.00 price objective on AltaGas and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on AltaGas from C$33.00 to C$36.00 in a research report on Friday, July 19th. National Bankshares upped their price objective on AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada upped their price objective 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. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AltaGas currently has an average rating of “Buy” and a consensus target price of C$37.60.

AltaGas Stock Performance

AltaGas has a twelve month low of C$24.67 and a twelve month high of C$35.49. The firm has a market capitalization of C$9.98 billion, a PE ratio of 23.09, a PEG ratio of -4.97 and a beta of 1.24. The firm has a 50 day simple moving average of C$33.42 and a 200 day simple moving average of C$31.27. The company has a quick ratio of 0.44, a current ratio of 0.85 and a debt-to-equity ratio of 115.50.

AltaGas (TSE:ALA) last announced its earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.02. The company had revenue of C$2.78 billion for the quarter, compared to analyst estimates 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 2.299654 earnings per share for the current fiscal year.

Insider Buying and Selling at AltaGas

In other AltaGas news, Senior Officer Bertram Grant Bradley sold 7,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total value of C$252,075.00. In related news, Director Aaron Bishop sold 19,820 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of C$33.58, for a total value of C$665,555.60. Also, Senior Officer Bertram Grant Bradley sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$33.61, for a total transaction of C$252,075.00. Insiders sold 33,320 shares of company stock worth $1,125,051 over the last 90 days. Corporate 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.