AltaGas Canada (TSE:ACI) had its target price raised by TD Securities from C$19.50 to C$25.00 in a research report released on Monday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.
Several other analysts have also issued reports on the company. Industrial Alliance Securities raised AltaGas Canada from a hold rating to a buy rating and increased their target price for the stock from C$18.00 to C$24.00 in a report on Monday, June 3rd. National Bank Financial increased their target price on AltaGas Canada from C$20.00 to C$25.00 and gave the stock a sector perform rating in a report on Friday, August 9th. CIBC increased their target price on AltaGas Canada from C$23.00 to C$31.00 in a report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on AltaGas Canada from C$23.00 to C$32.00 and gave the stock an outperform rating in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. increased their target price on AltaGas Canada from C$19.00 to C$22.00 in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of C$26.57.
Shares of TSE ACI opened at C$25.90 on Monday. 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 firm has a fifty day moving average price of C$25.52. AltaGas Canada has a one year low of C$14.06 and a one year high of C$27.60. The firm has a market cap of $805.50 million and a price-to-earnings ratio of 17.50.
AltaGas Canada (TSE:ACI) last released its 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 firm had revenue of C$61.30 million during the quarter, compared to the consensus estimate of C$61.65 million. As a group, research analysts expect that AltaGas Canada will post 1.5299999 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.04 annualized dividend and a dividend yield of 4.02%. AltaGas Canada’s dividend 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.
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