Altagas (ALA) Gains “Market Perform” Rating from Cormark

Altagas (ALA) Gains “Market Perform” Rating from Cormark

Altagas (TSE:ALA)‘s stock had its “market perform” rating reaffirmed by stock analysts at Cormark in a report released on Friday, BayStreet.CA reports.

Several other research firms also recently weighed in on ALA. National Bank Financial upped their price target on Altagas from C$18.00 to C$19.00 and gave the stock a “sector perform” rating in a research note on Friday. Raymond James restated a “market perform” rating and issued a C$19.00 price target on shares of Altagas in a research note on Friday, March 1st. JPMorgan Chase & Co. upped their price target on Altagas from C$14.00 to C$16.00 in a research note on Tuesday, March 19th. Desjardins upped their price target on Altagas from C$16.00 to C$19.00 in a research note on Friday, March 1st. Finally, BMO Capital Markets upped their price target on Altagas from C$17.00 to C$18.00 in a research note on Saturday, April 13th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Altagas presently has a consensus rating of “Hold” and an average price target of C$20.05.

Altagas stock traded up C$0.27 during midday trading on Friday, hitting C$18.68. The stock had a trading volume of 1,206,900 shares, compared to its average volume of 1,103,646. The firm has a market capitalization of $5.14 billion and a price-to-earnings ratio of -8.29. Altagas has a 52-week low of C$11.87 and a 52-week high of C$28.45. The company has a current ratio of 0.98, a quick ratio of 0.40 and a debt-to-equity ratio of 133.07.

Altagas (TSE:ALA) last released its earnings results on Thursday, February 28th. The company reported C$0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.52 by C($0.08). The company had revenue of C$1.73 billion for the quarter, compared to the consensus estimate of C$1.41 billion. On average, analysts predict that Altagas will post 1.19000003083944 EPS for the current year.

In other Altagas news, Director Victoria Anne Calvert purchased 3,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of C$17.75 per share, for a total transaction of C$53,250.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately C$53,250.

Altagas Company Profile

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

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