AltaGas Canada (TSE:ACI) Price Target Raised to C$33.50 at JPMorgan Chase & Co.

AltaGas Canada (TSE:ACI) had its target price upped by JPMorgan Chase & Co. from C$23.00 to C$33.50 in a research report issued on Tuesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.69% from the stock’s previous close.

Several other brokerages have also recently commented on ACI. TD Securities upped their target price on shares of AltaGas Canada from C$19.50 to C$25.00 and gave the company a “hold” rating in a research report on Monday, August 12th. National Bank Financial upped their target price on shares of AltaGas Canada from C$20.00 to C$25.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. Royal Bank of Canada cut shares of AltaGas Canada from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$33.00 to C$33.50 in a research report on Tuesday. Finally, CIBC upped their target price on shares of AltaGas Canada from C$31.00 to C$33.50 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$28.79.

TSE:ACI traded up C$0.12 during trading hours on Tuesday, hitting C$33.27. 422,848 shares of the stock were exchanged, compared to its average volume of 67,017. The company’s 50 day moving average is C$25.21. AltaGas Canada has a twelve month low of C$14.06 and a twelve month high of C$33.28. The company has a debt-to-equity ratio of 104.23, a current ratio of 0.72 and a quick ratio of 0.57. The firm has a market capitalization of $744.60 million and a P/E ratio of 22.48.

AltaGas Canada (TSE:ACI) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.14 by C($0.01). The business had revenue of C$61.30 million during the quarter, compared to analysts’ expectations of C$61.65 million. On average, research analysts anticipate that AltaGas Canada will post 1.5190846 earnings per share for the current fiscal 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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