Altagas (TSE:ALA) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from C$14.00 to C$16.00 in a report released on Tuesday. JPMorgan Chase & Co.‘s price target suggests a potential downside of 9.40% from the stock’s current price.
ALA has been the topic of a number of other reports. Cormark raised shares of Altagas from a “market perform” rating to a “buy” rating and lowered their price objective for the company from C$24.00 to C$20.00 in a research report on Tuesday, February 12th. Desjardins reaffirmed a “buy” rating and set a C$18.00 price objective on shares of Altagas in a research report on Monday, December 17th. Raymond James reaffirmed a “market perform” rating and set a C$19.00 price objective on shares of Altagas in a research report on Friday, December 14th. CIBC lowered their price objective on shares of Altagas from C$24.00 to C$20.00 in a research report on Friday, December 14th. Finally, National Bank Financial lowered their price objective on shares of Altagas from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research report on Friday, December 14th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of C$19.59.
Shares of ALA opened at C$17.66 on Tuesday. Altagas has a 52 week low of C$11.87 and a 52 week high of C$28.45. The company has a market cap of $4.79 billion and a P/E ratio of -7.83. 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 Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.
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