Altagas Ltd (ALA) Receives C$35.90 Consensus Price Target from Analysts

Altagas Ltd (TSE:ALA) has been given an average recommendation of “Buy” by the fourteen research firms that are presently covering the firm. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$35.90.

Several analysts have commented on ALA shares. CIBC upped their price objective on Altagas from C$34.00 to C$35.00 in a research note on Friday, October 21st. National Bank Financial boosted their target price on Altagas from C$37.00 to C$38.00 in a research report on Wednesday, January 25th. Desjardins upgraded Altagas from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$34.00 to C$38.00 in a research report on Friday, October 21st. TD Securities boosted their target price on Altagas from C$36.00 to C$37.00 and gave the stock a “buy” rating in a research report on Wednesday, January 4th. Finally, GMP Securities cut Altagas from a “buy” rating to a “hold” rating in a research report on Friday, October 21st.

Shares of Altagas (TSE:ALA) opened at 31.12 on Thursday. The company’s 50-day moving average price is $32.54 and its 200 day moving average price is $33.16. Altagas has a 12-month low of $28.86 and a 12-month high of $35.55. The firm has a market capitalization of $5.15 billion and a price-to-earnings ratio of 75.17.

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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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