Altagas Ltd (TSE:ALA) had its target price reduced by research analysts at Raymond James Financial, Inc. from C$32.00 to C$30.00 in a research report issued to clients and investors on Monday. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial, Inc.’s target price would suggest a potential upside of 2.21% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Canaccord Genuity lowered their price objective on shares of Altagas from C$33.00 to C$31.00 and set a “hold” rating for the company in a research note on Tuesday, July 25th. BMO Capital Markets set a C$32.00 price objective on shares of Altagas and gave the company a “market perform” rating in a research note on Friday, July 28th. Scotiabank lowered their price objective on shares of Altagas from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research note on Friday. CIBC lowered their price objective on shares of Altagas from C$38.00 to C$35.00 in a research note on Friday. Finally, Royal Bank Of Canada lowered their price objective on shares of Altagas from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research note on Friday, July 28th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$33.75.

Shares of Altagas (TSE ALA) traded up 0.10% on Monday, reaching $29.35. The company had a trading volume of 756,773 shares. Altagas has a 1-year low of $26.87 and a 1-year high of $35.55. The firm has a 50-day moving average price of $28.25 and a 200 day moving average price of $29.39. The firm has a market capitalization of $5.04 billion and a price-to-earnings ratio of 45.50.

Altagas (TSE:ALA) last issued its quarterly earnings results on Thursday, July 27th. The company reported C$0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.16 by C$0.01. The company had revenue of C$539.00 million during the quarter, compared to the consensus estimate of C$633.11 million. Altagas had a negative return on equity of 0.93% and a net margin of 1.84%. Equities research analysts predict that Altagas will post $1.06 earnings per share for the current year.

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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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