Altagas (ALA) Price Target Cut to C$23.00

Altagas (TSE:ALA) had its target price cut by BMO Capital Markets from C$26.00 to C$23.00 in a research note issued on Monday. BMO Capital Markets’ price objective indicates a potential upside of 2.13% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. National Bank Financial reduced their price target on shares of Altagas from C$29.00 to C$28.00 and set a “sector perform” rating for the company in a report on Thursday, August 2nd. Industrial Alliance Securities reduced their price target on shares of Altagas from C$29.50 to C$28.50 in a report on Monday. CIBC reduced their price target on shares of Altagas from C$32.00 to C$30.00 in a report on Tuesday, September 11th. Canaccord Genuity reduced their price target on shares of Altagas from C$26.00 to C$24.00 in a report on Friday. Finally, Raymond James reduced their price target on shares of Altagas from C$25.00 to C$23.00 in a report on Tuesday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Altagas presently has a consensus rating of “Hold” and a consensus price target of C$27.39.

Shares of Altagas stock traded down C$0.33 on Monday, hitting C$22.52. The company had a trading volume of 1,149,265 shares, compared to its average volume of 807,588. Altagas has a twelve month low of C$22.21 and a twelve month high of C$30.06.

Altagas (TSE:ALA) last released its quarterly earnings results on Wednesday, August 1st. The company reported C$0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.11 by C$0.02. The company had revenue of C$610.00 million during the quarter, compared to analysts’ expectations of C$627.43 million. Altagas had a negative net margin of 3.60% and a negative return on equity of 5.43%.

Altagas Company Profile

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.

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Analyst Recommendations for Altagas (TSE:ALA)

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