Today, an analyst has provided a rating update for AltaGas (TSX: ALA). Analyst Patrick Kenny from National Bank rated AltaGas (TSX: ALA) a Hold, setting a C$18 price target.
According to TipRanks.com, Kenny is ranked #2950 out of 4887 analysts.
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Currently, the analyst consensus on AltaGas is a Moderate Buy with an average price target of C$23.38, representing a 41.3% upside. In a report issued on October 29, Desjardins also reiterated a Hold rating on the stock with a C$26 price target.
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Based on AltaGas’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$709 million. In comparison, last year the company had a net profit of C$33.1 million.
AltaGas Ltd. engages in the generation and distribution of electricity. It operates through the following segments: Gas, Power and Utilities. The Gas segment business gathers, processes, transports, stores and markets natural gas and natural gas liquids.
The company’s shares closed on Wednesday at C$16.55, close to its 52-week low of C$16.43.
