A Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Justin Bouchard from Desjardins remains neutral on AltaGas (ALA) and has a C$19 price target.
According to TipRanks.com, Bouchard is ranked 0 out of 5 stars with an average return of -9.4% and a 39.8% success rate. Bouchard covers the Basic Materials sector, focusing on stocks such as Imperial Oil Limited, Canadian Natural, and Husky Energy.
Currently, the analyst consensus on AltaGas is a Hold with an average price target of C$18.13.
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 Thursday at C$17.68.
