Altagas (ALA) Given New C$28.00 Price Target at Canaccord Genuity

Altagas (TSE:ALA) had its price target decreased by analysts at Canaccord Genuity from C$31.00 to C$28.00 in a research report issued to clients and investors on Wednesday. Canaccord Genuity’s target price points to a potential upside of 7.78% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Altagas from C$32.00 to C$30.00 in a research note on Tuesday, February 6th. National Bank Financial downgraded shares of Altagas from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Sunday, January 28th. Raymond James Financial decreased 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. Scotiabank decreased 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, CIBC decreased their price target on shares of Altagas from C$38.00 to C$35.00 in a research note on Friday, October 20th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of C$31.67.

Altagas (TSE ALA) traded up C$0.02 during trading on Wednesday, hitting C$25.98. 587,881 shares of the stock traded hands, compared to its average volume of 594,413. Altagas has a 1 year low of C$25.42 and a 1 year high of C$31.70. The company has a market capitalization of $4,520.00, a P/E ratio of 55.28 and a beta of 0.38.

In related news, Director David Wallace Cornhill sold 4,000 shares of the business’s 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 value of C$116,040.00. Also, insider Peter Lauren Karl sold 2,300 shares of the business’s 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.

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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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