Altagas Ltd (ALA) Receives C$33.75 Average Target Price from Brokerages

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.

Analyst Recommendations for Altagas (TSE:ALA)

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