Scotiabank Sticks to Its Buy Rating for AltaGas

By Carrie Williams

AltaGas (TSX: ALA), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Robert Hope from Scotiabank rated AltaGas (TSX: ALA) a Buy, setting a C$36 price target.

According to TipRanks.com, Hope is ranked #897 out of 4570 analysts.

AltaGas has an analyst consensus of Moderate Buy, with a price target consensus of C$34.68.

AltaGas’ market cap is currently C$5.13B and has a P/E ratio of 37.9.

AltaGas Ltd. engages in the generation and distribution of electricity. It operates through the following segments: Gas, Power, and Utilities. The Gas segment business gathers, processes, transports, stores and markets natural gas and natural gas liquids. The Power segment consist of operating conventional and renewable power including wind, run-of-river hydro and biomass. The Utilities segment involves the ownership of regulated natural gas distribution and storage utilities. The company was founded in 1993 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $30.59.