In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, AltaGas (ALA). Yesterday, analyst David Galison gave a Buy rating to ALA and set a C$19 price target.
Galison has an average return of 2.7% when recommending AltaGas.
According to TipRanks.com, Galison is ranked #1441 out of 5108 analysts.
Currently, the analyst consensus on AltaGas is a Moderate Buy with an average price target of C$19.14, which is a 27.2% upside from current levels. In a report released yesterday, Scotiabank also reiterated a Buy rating on the stock with a C$20 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 Thursday at C$15.05, close to its 52-week low of C$13.11.
