Altagas (ALA) Stock Rating Lowered by National Bank Financial

Altagas (TSE:ALA) was downgraded by equities research analysts at National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating in a research note issued on Sunday.

Several other brokerages have also commented on ALA. Scotiabank decreased their price objective on shares of Altagas from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research report on Friday, October 20th. CIBC decreased their price objective on shares of Altagas from C$38.00 to C$35.00 in a research report on Friday, October 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$32.00 price objective on shares of Altagas in a research report on Friday, October 20th. Finally, Raymond James Financial decreased their price objective on shares of Altagas from C$32.00 to C$30.00 and set a “market perform” rating for the company in a research report on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Altagas presently has an average rating of “Hold” and a consensus price target of C$33.29.

Altagas (TSE:ALA) opened at C$27.79 on Friday. The company has a market cap of $4,850.00, a P/E ratio of 59.13 and a beta of 0.47. Altagas has a 1 year low of C$26.87 and a 1 year high of C$31.70.

In other Altagas news, insider Peter Lauren Karl sold 2,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 23rd. The shares were sold at an average price of C$29.66, for a total transaction of C$68,218.00. Also, Director David Wallace Cornhill sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of C$29.01, for a total transaction of C$116,040.00.

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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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