Altagas (TSE:ALA) Price Target Cut to C$30.00

Altagas (TSE:ALA) had its price objective dropped by stock analysts at BMO Capital Markets from C$32.00 to C$30.00 in a research note issued to investors on Tuesday, February 6th. BMO Capital Markets’ price target would indicate a potential upside of 15.47% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. CIBC lowered their price target on Altagas from C$38.00 to C$35.00 in a research report on Friday, October 20th. Raymond James Financial lowered their price target on Altagas from C$32.00 to C$30.00 and set a “market perform” rating on the stock in a research report on Monday, October 23rd. National Bank Financial downgraded Altagas from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Sunday, January 28th. Finally, Scotiabank lowered their price target on Altagas from C$36.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Friday, October 20th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Altagas has a consensus rating of “Hold” and a consensus target price of C$31.67.

Shares of Altagas (TSE:ALA) opened at C$25.98 on Tuesday. Altagas has a 12-month low of C$25.42 and a 12-month high of C$31.70. The firm has a market capitalization of $4,530.00, a PE ratio of 55.28 and a beta of 0.38.

In related news, Director David Wallace Cornhill sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of C$29.01, for a total value of C$116,040.00. Also, insider Peter Lauren Karl sold 2,300 shares of the firm’s stock in a transaction dated Thursday, November 23rd. The stock was sold at an average price of C$29.66, for a total transaction of C$68,218.00.

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Altagas Company Profile

AltaGas Ltd is a Canada-based energy infrastructure company. The Company operates through three segments: Gas, Power and Utilities. The Gas segment transacts approximately two billion cubic feet per day (Bcf/d) of natural gas and includes natural gas gathering and processing, natural gas liquids extraction and separation, transmission, storage and natural gas marketing, as well as its interest in Petrogas Energy Corp.

Analyst Recommendations for Altagas (TSE:ALA)

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