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.
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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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