AltaGas Canada (TSE:ACI) Given New C$32.00 Price Target at Royal Bank of Canada

AltaGas Canada (TSE:ACI) had its price objective upped by Royal Bank of Canada from C$23.00 to C$32.00 in a research note issued to investors on Thursday, June 20th, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also weighed in on the stock. Beacon Securities reiterated a buy rating and issued a C$27.00 price objective on shares of AltaGas Canada in a research note on Monday, June 10th. Industrial Alliance Securities upgraded shares of AltaGas Canada from a hold rating to a buy rating and upped their price objective for the company from C$18.00 to C$24.00 in a research note on Monday, June 3rd.

Shares of ACI stock traded down C$0.05 during trading hours on Thursday, reaching C$25.04. 41,800 shares of the stock traded hands, compared to its average volume of 57,186. AltaGas Canada has a 1-year low of C$14.06 and a 1-year high of C$25.54. The firm has a fifty day moving average of C$23.31. The company has a debt-to-equity ratio of 103.88, a current ratio of 1.05 and a quick ratio of 0.91. The firm has a market capitalization of $751.20 million and a price-to-earnings ratio of 16.95.

AltaGas Canada (TSE:ACI) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.69 by C($0.05). As a group, analysts forecast that AltaGas Canada will post 1.5399999 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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