In a new note to investors today, an analyst has provided a rating update for AltaGas (TSX: ALA). Raymond James’ analyst Chris Cox reiterates their Sell rating on the shares, with a C$19 price target.
According to TipRanks.com, Cox is a 2-star analyst with an average return of 0.9% and a 47.1% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Baytex Energy Corp, Husky Energy, and AltaGas Ltd.
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AltaGas has an analyst consensus of Moderate Buy, with a price target consensus of C$23.38.
AltaGas’ market cap is currently C$3.01B and has a P/E ratio of 50.5. The company has a Price to Book ratio of 0.80.
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.
