A Wall Street analyst has provided a rating update for the Materials sector company today, while remaining neutral on the stock. AltaGas (ALA) received a Hold rating from National Bank’s analyst Patrick Kenny, with a C$15.50 price target.
According to TipRanks.com, Kenny is a 2-star analyst with an average return of 2.6% 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.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AltaGas with a C$20.88 average price target, a 32.2% upside from current levels. In a report issued on October 31, BMO Capital also maintained a Hold rating on the stock with a C$20 price target.
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AltaGas’ market cap is currently C$4.22B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.81.
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$15.80, close to its 52-week low of C$14.25.
