AltaGas Canada (TSE:ACI) Price Target Raised to C$33.50 at JPMorgan Chase & Co.

AltaGas Canada (TSE:ACI) had its price objective lifted by JPMorgan Chase & Co. from C$23.00 to C$33.50 in a report released on Tuesday, October 22nd, BayStreet.CA reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 0.09% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. National Bank Financial raised their price target on shares of AltaGas Canada from C$20.00 to C$25.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. CIBC raised their price target on shares of AltaGas Canada from C$31.00 to C$33.50 in a report on Tuesday, October 22nd. TD Securities raised their price target on shares of AltaGas Canada from C$19.50 to C$25.00 and gave the company a “hold” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada lowered shares of AltaGas Canada from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$33.00 to C$33.50 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of C$28.79.

Shares of ACI stock opened at C$33.47 on Tuesday. The company has a fifty day simple moving average of C$28.10. AltaGas Canada has a 52 week low of C$14.06 and a 52 week high of C$33.69. The company has a debt-to-equity ratio of 104.23, a quick ratio of 0.57 and a current ratio of 0.72. The stock has a market cap of $1.00 billion and a P/E ratio of 22.61.

AltaGas Canada (TSE:ACI) last issued its earnings results on Thursday, August 8th. The company reported C$0.13 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.14 by C($0.01). The firm had revenue of C$61.30 million for the quarter, compared to analyst estimates of C$61.65 million. As a group, equities analysts forecast that AltaGas Canada will post 1.52 earnings per share for the current fiscal year.

AltaGas Canada Company Profile

AltaGas Canada Inc, a natural gas distribution utility company, provides rate-regulated utility services in northern British Columbia. It operates in Renewable Energy and Utilities segments. The company also holds interest in the Bear Mountain Wind Park, a 102 MW generating wind facility consisting of 34 turbines, a substation, and transmission and collector lines; and the northwest hydro facilities located in Tahltan first nation territory of Vancouver, British Columbia.

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Analyst Recommendations for AltaGas Canada (TSE:ACI)

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