Shares of Altagas Ltd (TSE:ALA) have been given an average rating of “Buy” by the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$33.75.
ALA has been the subject of a number of recent research reports. Canaccord Genuity dropped their target price on Altagas from C$33.00 to C$31.00 and set a “hold” rating for the company in a research report on Tuesday, July 25th. Royal Bank Of Canada lowered their price objective on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research report on Friday, July 28th. BMO Capital Markets set a C$32.00 price objective on Altagas and gave the company a “market perform” rating in a research report on Friday, July 28th. Beacon Securities reiterated a “buy” rating on shares of Altagas in a research report on Thursday, September 21st. Finally, CIBC lowered their price objective on Altagas from C$38.00 to C$35.00 in a research report on Friday, October 20th.
In other news, Director David Wallace Cornhill sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of C$29.20, for a total transaction of C$58,400.00.
The business also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, September 25th were given a $0.175 dividend. The ex-dividend date was Friday, September 22nd. This represents a $2.10 annualized dividend and a yield of 7.14%.
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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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