In a latest note to investors, a research analyst has provided a rating update for the AltaGas (ALA). Today, analyst Patrick Kenny gave a Hold rating to ALA and set a C$17 price target.
According to TipRanks.com, Kenny is a 1-star analyst with an average return of -3.5% and a 36.4% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.
Currently, the analyst consensus on AltaGas is a Moderate Buy with an average price target of C$19.06, representing a 30.0% upside. In a report released today, Raymond James also upgraded the stock to Hold with a C$19 price target.
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AltaGas’ market cap is currently C$4.05B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.78.
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$14.66, close to its 52-week low of C$13.11.
