Altagas Ltd (TSE:ALA) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$33.29.
ALA has been the subject of several analyst reports. Beacon Securities reissued a “buy” rating on shares of Altagas in a research note on Thursday, September 21st. BMO Capital Markets reissued a “market perform” rating and issued a C$32.00 price target on shares of Altagas in a research note on Friday, October 20th. CIBC dropped their price target on shares of Altagas from C$38.00 to C$35.00 in a research note on Friday, October 20th. Scotiabank dropped their price target 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, October 20th. Finally, Raymond James Financial dropped their price target on shares of 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.
Altagas (TSE ALA) traded down C$0.09 during trading on Friday, hitting C$29.00. 306,163 shares of the stock traded hands, compared to its average volume of 527,465. Altagas has a twelve month low of C$26.87 and a twelve month high of C$34.77. The stock has a market cap of $5,060.00, a PE ratio of 61.70 and a beta of 0.47.
In other Altagas news, Director David Wallace Cornhill sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of C$29.01, for a total transaction of C$116,040.00. Also, insider Peter Lauren Karl sold 2,300 shares of the stock in a transaction that occurred on Thursday, November 23rd. The stock was sold at an average price of C$29.66, for a total transaction of C$68,218.00. Insiders have sold a total of 8,300 shares of company stock valued at $242,658 in the last ninety days.
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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.
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