Altagas (TSE:ALA) had its price target lowered by Raymond James from C$22.00 to C$19.00 in a research note issued to investors on Wednesday. The firm currently has an underperform rating on the stock.
ALA has been the topic of a number of other reports. TD Securities reduced their price objective on shares of Altagas from C$37.00 to C$32.00 and set a buy rating on the stock in a report on Tuesday, July 10th. Canaccord Genuity reduced their price objective on shares of Altagas from C$26.00 to C$24.00 in a report on Friday, September 14th. BMO Capital Markets reduced their price objective on shares of Altagas from C$26.00 to C$23.00 in a report on Monday, September 17th. National Bank Financial reduced their price objective on shares of Altagas from C$29.00 to C$28.00 and set a sector perform rating on the stock in a report on Thursday, August 2nd. Finally, Industrial Alliance Securities reduced their price objective on shares of Altagas from C$28.50 to C$27.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of C$22.90.
Altagas stock traded down C$0.41 during mid-day trading on Wednesday, reaching C$16.14. 1,221,401 shares of the company’s stock were exchanged, compared to its average volume of 1,031,874. Altagas has a twelve month low of C$15.70 and a twelve month high of C$30.06.
The business also recently announced a monthly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, November 26th will be given a $0.183 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.61%. The ex-dividend date is Friday, November 23rd.
In related news, insider Jared Blake Green sold 4,750 shares of the stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of C$21.02, for a total value of C$99,845.00. Also, Director Phillip R. Knoll bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was bought at an average cost of C$20.91 per share, for a total transaction of C$52,275.00.
AltaGas Ltd. operates as a diversified energy infrastructure company in North America. It operates through three segments: Gas, Power, and Utilities. The Gas segment engages in natural gas gathering and processing; natural gas liquids (NGL) extraction and separation, transmission, and storage; and natural gas and NGL marketing activities, as well as buying and selling natural gas.
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