AltaGas Canada (TSE:ACI) Price Target Raised to C$33.00 at Royal Bank of Canada

AltaGas Canada (TSE:ACI) had its target price boosted by equities researchers at Royal Bank of Canada from C$32.00 to C$33.00 in a report released on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 25.38% from the stock’s previous close.

ACI has been the subject of several other research reports. Industrial Alliance Securities raised AltaGas Canada from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$18.00 to C$24.00 in a report on Monday, June 3rd. CIBC boosted their price objective on AltaGas Canada from C$23.00 to C$31.00 in a report on Tuesday, July 23rd. TD Securities boosted their price objective on AltaGas Canada from C$19.50 to C$25.00 and gave the company a “hold” rating in a report on Monday, August 12th. National Bank Financial boosted their price objective on AltaGas Canada from C$20.00 to C$25.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Finally, Beacon Securities reissued a “buy” rating and issued a C$27.00 price objective on shares of AltaGas Canada in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of C$26.71.

ACI traded up C$0.35 on Wednesday, reaching C$26.32. 20,575 shares of the stock were exchanged, compared to its average volume of 55,489. The firm’s 50-day moving average is C$25.76. AltaGas Canada has a fifty-two week low of C$14.06 and a fifty-two week high of C$27.60. The company has a quick ratio of 0.57, a current ratio of 0.72 and a debt-to-equity ratio of 104.23. The stock has a market capitalization of $793.80 million and a price-to-earnings ratio of 17.81.

AltaGas Canada (TSE:ACI) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.14 by C($0.01). The firm had revenue of C$61.30 million during the quarter, compared to analyst estimates of C$61.65 million. As a group, equities analysts anticipate that AltaGas Canada will post 1.52 earnings per share for the current year.

About AltaGas Canada

AltaGas Canada Inc, a natural gas distribution utility company, provides rate-regulated utility services in northern British Columbia. It operates in Renewable Energy and Utilities segments. The company also holds interest in the Bear Mountain Wind Park, a 102 MW generating wind facility consisting of 34 turbines, a substation, and transmission and collector lines; and the northwest hydro facilities located in Tahltan first nation territory of Vancouver, British Columbia.

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Analyst Recommendations for AltaGas Canada (TSE:ACI)

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