BMO Capital Markets Lowers Altagas (ALA) Price Target to C$30.00

Altagas (TSE:ALA) had its target price lowered by investment analysts at BMO Capital Markets from C$32.00 to C$30.00 in a research report issued on Tuesday. BMO Capital Markets’ target price points to a potential upside of 12.53% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. CIBC lowered their price objective on Altagas from C$38.00 to C$35.00 in a research note on Friday, October 20th. Raymond James Financial lowered their price objective on Altagas from C$32.00 to C$30.00 and set a “market perform” rating on the stock in a research note on Monday, October 23rd. Scotiabank lowered their price objective on Altagas from C$36.00 to C$34.00 and set an “outperform” rating on the stock in a research note on Friday, October 20th. Finally, National Bank Financial cut Altagas from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Sunday, January 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Altagas presently has an average rating of “Hold” and a consensus price target of C$33.00.

Shares of Altagas (ALA) traded up C$0.10 during trading on Tuesday, reaching C$26.66. The company had a trading volume of 718,286 shares, compared to its average volume of 585,917. Altagas has a fifty-two week low of C$26.20 and a fifty-two week high of C$31.70. The company has a market cap of $4,630.00, a PE ratio of 56.72 and a beta of 0.38.

In other Altagas news, Director David Wallace Cornhill sold 4,000 shares of Altagas stock in a transaction dated Wednesday, December 6th. The stock was 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 Altagas stock in a transaction dated Thursday, November 23rd. The shares were sold at an average price of C$29.66, for a total value 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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