Raymond James analyst Chris Cox maintained a Hold rating on AltaGas (ATGFF) today and set a price target of C$21.00. The company’s shares closed last Monday at $15.53.
According to TipRanks.com, Cox is a 3-star analyst with an average return of 0.7% and a 48.1% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Pembina Pipeline, Cenovus Energy, and Inter Pipeline.
Currently, the analyst consensus on AltaGas is a Moderate Buy with an average price target of $17.24, which is an 11.2% upside from current levels. In a report issued on February 18, Canaccord Genuity also initiated coverage with a Hold rating on the stock with a C$23.00 price target.
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Based on AltaGas’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $68.1 million. In comparison, last year the company had a net profit of $145 million.
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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.
