Altagas Ltd (TSE:ALA)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a research note issued on Monday, StockTargetPrices.com reports. They currently have a C$35.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 12.98% from the stock’s previous close.
ALA has been the topic of a number of other reports. Scotiabank restated an “outperform” rating and issued a C$36.00 price target on shares of Altagas in a research report on Friday, February 24th. Macquarie upgraded shares of Altagas from a “neutral” rating to an “outperform” rating in a research report on Friday, February 10th. National Bank Financial boosted their price target on shares of Altagas from C$37.00 to C$38.00 in a research report on Wednesday, January 25th. Raymond James Financial, Inc. set a C$34.00 price target on shares of Altagas and gave the company a “market perform” rating in a research report on Wednesday, January 4th. Finally, Canaccord Genuity reduced their price target on shares of Altagas from C$35.00 to C$33.00 and set a “hold” rating on the stock in a research report on Monday, February 6th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Altagas currently has a consensus rating of “Buy” and a consensus price target of C$36.00.
Altagas (TSE:ALA) traded down 0.32% during trading on Monday, reaching $30.88. 213,847 shares of the company were exchanged. The firm has a 50-day moving average of $31.00 and a 200-day moving average of $32.68. The firm has a market cap of $5.19 billion and a price-to-earnings ratio of 31.22. Altagas has a 52-week low of $28.86 and a 52-week high of $35.55.
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In related news, Director Phillip R. Knoll bought 1,000 shares of Altagas stock in a transaction dated Thursday, March 9th. The shares were bought at an average cost of C$29.75 per share, for a total transaction of C$29,750.00. Also, insider Shaun William Toivanen bought 1,550 shares of Altagas stock in a transaction dated Monday, February 27th. The shares were bought at an average price of C$29.94 per share, for a total transaction of C$46,407.00. Insiders have bought 7,550 shares of company stock worth $231,057 over the last quarter.
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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