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

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AltaGas Canada (TSE:ACI) had its target price hoisted by TD Securities from C$19.50 to C$25.00 in a report released on Monday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

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

TSE:ACI opened at C$27.20 on Monday. The stock’s fifty day moving average price is C$25.37. AltaGas Canada has a 52-week low of C$14.06 and a 52-week high of C$27.60. The company has a debt-to-equity ratio of 104.23, a quick ratio of 0.57 and a current ratio of 0.72. The firm has a market cap 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. Stockholders of record on Friday, August 30th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Thursday, August 29th. AltaGas Canada’s dividend payout ratio (DPR) 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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