Altagas Ltd (ALA) Director David Wallace Cornhill Sells 2,000 Shares
Altagas Ltd (TSE:ALA) Director David Wallace Cornhill sold 2,000 shares of Altagas stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of C$29.20, for a total value of C$58,400.00.
Shares of Altagas Ltd (ALA) traded up 0.48% during trading on Tuesday, reaching $29.38. The company’s stock had a trading volume of 357,318 shares. The stock has a 50-day moving average of $28.46 and a 200-day moving average of $29.28. Altagas Ltd has a 52-week low of $26.87 and a 52-week high of $35.15. The stock has a market cap of $5.04 billion and a P/E ratio of 45.55.
The business also recently declared a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, September 25th were issued a $0.175 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date was Friday, September 22nd.
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Several research analysts have recently commented on the company. Raymond James Financial, Inc. reduced their target price on Altagas from C$32.00 to C$30.00 and set a “market perform” rating for the company in a research note on Monday, October 23rd. Scotiabank reduced their target price on Altagas from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. CIBC reduced their target price on Altagas from C$38.00 to C$35.00 in a research note on Friday, October 20th. BMO Capital Markets reiterated a “market perform” rating and set a C$32.00 target price on shares of Altagas in a research note on Friday, October 20th. Finally, Beacon Securities reiterated a “buy” rating on shares of Altagas in a research note on Thursday, September 21st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Altagas currently has an average rating of “Buy” and an average price target of C$33.75.
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.
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