AltaGas Canada (TSE:ACI) Given New C$25.00 Price Target at TD Securities

AltaGas Canada (TSE:ACI) had its target price increased by TD Securities from C$19.50 to C$25.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other analysts have also recently weighed in on the company. Industrial Alliance Securities raised AltaGas Canada from a hold rating to a buy rating and boosted their price target for the stock from C$18.00 to C$24.00 in a research report on Monday, June 3rd. Royal Bank of Canada boosted their price target on AltaGas Canada from C$23.00 to C$32.00 and gave the stock an outperform rating in a research report on Thursday, June 20th. National Bank Financial boosted their price target on AltaGas Canada from C$20.00 to C$25.00 and gave the stock a sector perform rating in a research report on Friday. Beacon Securities reaffirmed a buy rating and issued a C$27.00 price target on shares of AltaGas Canada in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their price target on AltaGas Canada from C$19.00 to C$22.00 in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of C$26.57.

Shares of TSE ACI opened at C$27.20 on Monday. The company has a 50-day moving average price of C$25.37. The company has a quick ratio of 0.57, a current ratio of 0.72 and a debt-to-equity ratio of 104.23. AltaGas Canada has a one year low of C$14.06 and a one year high of C$27.60. The stock has a market capitalization of $805.50 million and a P/E ratio of 18.38.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be given a $0.26 dividend. The ex-dividend date is Thursday, August 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.82%. AltaGas Canada’s dividend payout ratio is currently 70.27%.

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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