AltaGas Canada (TSE:ACI) Price Target Raised to C$33.50 at CIBC

AltaGas Canada (TSE:ACI) had its price objective raised by CIBC from C$31.00 to C$33.50 in a research note released on Tuesday morning, BayStreet.CA reports.

ACI has been the topic of several other research reports. Royal Bank of Canada downgraded AltaGas Canada from an outperform rating to a sector perform rating and raised their price target for the stock from C$33.00 to C$33.50 in a report on Tuesday. TD Securities lifted their target price on AltaGas Canada from C$19.50 to C$25.00 and gave the company a hold rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on AltaGas Canada from C$19.00 to C$22.00 in a research note on Thursday, July 18th. Finally, National Bank Financial lifted their target price on AltaGas Canada from C$20.00 to C$25.00 and gave the company a sector perform rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of C$28.79.

Shares of TSE ACI opened at C$33.25 on Tuesday. The company has a market cap of $744.60 million and a P/E ratio of 22.47. AltaGas Canada has a 12-month low of C$14.06 and a 12-month high of C$33.37. The company has a current ratio of 0.72, a quick ratio of 0.57 and a debt-to-equity ratio of 104.23. The business has a 50 day moving average of C$25.38.

AltaGas Canada (TSE:ACI) last announced its quarterly earnings results 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 company had revenue of C$61.30 million during the quarter, compared to analyst estimates of C$61.65 million. Equities research analysts forecast that AltaGas Canada will post 1.5190846 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Thursday, August 29th. AltaGas Canada’s payout ratio is currently 43.88%.

AltaGas Canada Company Profile

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.

Featured Article: Fiduciary

Analyst Recommendations for AltaGas Canada (TSE:ACI)

Receive News & Ratings for AltaGas Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AltaGas Canada and related companies with's FREE daily email newsletter.