Altagas Ltd (TSE:ALA) had its target price reduced by Royal Bank Of Canada from C$35.00 to C$33.00 in a research note released on Friday. Royal Bank Of Canada currently has a sector perform rating on the stock.

ALA has been the topic of a number of other reports. Canaccord Genuity reduced their price objective on shares of Altagas from C$33.00 to C$31.00 and set a hold rating on the stock in a research note on Tuesday, July 25th. Scotiabank reiterated an outperform rating and set a C$36.00 price objective on shares of Altagas in a research note on Thursday, April 27th. Finally, Raymond James Financial, Inc. reiterated a market perform rating and set a C$32.00 price objective on shares of Altagas in a research note on Thursday, April 27th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of C$35.11.

Altagas (ALA) opened at 29.02 on Friday. The company’s 50-day moving average is $29.63 and its 200 day moving average is $30.72. The company has a market capitalization of $4.98 billion and a P/E ratio of 44.99. Altagas has a one year low of $28.69 and a one year high of $35.55.

Altagas (TSE:ALA) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Altagas had a net margin of 6.19% and a return on equity of 3.57%. The business had revenue of $539 million for the quarter, compared to the consensus estimate of $633.11 million. Analysts predict that Altagas will post $0.92 EPS for the current year.

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The business also recently announced a monthly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.175 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.24%.

In other news, insider Kent Eugene Stout sold 1,000 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of C$31.60, for a total value of C$31,600.00.

About Altagas

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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