In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, AltaGas (ALA). Analyst Bill Cabel from Desjardins reiterated a Hold rating, with a C$16 price target today.
According to TipRanks.com, Cabel is ranked #565 out of 5142 analysts.
Currently, the analyst consensus on AltaGas is a Hold with an average price target of C$17.75.
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$5.4 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 Friday at C$13.80, close to its 52-week low of C$11.87.
