In a new note to investors on October 29, an analyst has provided a rating update for AltaGas (TSX: ALA). The company received a Hold on October 29 from Desjardins’ analyst Bill Cabel, with a C$26 price target.
According to TipRanks.com, Cabel is ranked #912 out of 4887 analysts.
Read also: Direxion Daily Jr Gld Mnrs (JNUG): Gold Stocks Recovering
AltaGas has an analyst consensus of Moderate Buy, with a price target consensus of C$25.86.
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 Tuesday at C$16.66, close to its 52-week low of C$16.43.
