Altagas Ltd (TSE:ALA) had its price objective lowered by investment analysts at Scotiabank from C$36.00 to C$34.00 in a note issued to investors on Friday. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 15.10% from the company’s previous close.

A number of other analysts have also commented on the company. Royal Bank Of Canada reduced their target price on Altagas from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a report on Friday, July 28th. BMO Capital Markets set a C$32.00 target price on Altagas and gave the stock a “market perform” rating in a report on Friday, July 28th. Canaccord Genuity reduced their target price on Altagas from C$33.00 to C$31.00 and set a “hold” rating for the company in a report on Tuesday, July 25th. Beacon Securities reissued a “buy” rating on shares of Altagas in a report on Thursday, September 21st. Finally, CIBC reduced their target price on Altagas from C$38.00 to C$35.00 in a report on Friday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Altagas has a consensus rating of “Buy” and a consensus price target of C$34.44.

Shares of Altagas (TSE ALA) traded down 0.98% on Friday, reaching $29.25. The company’s stock had a trading volume of 744,399 shares. The company has a market cap of $5.02 billion and a price-to-earnings ratio of 45.35. Altagas has a 52-week low of $26.87 and a 52-week high of $35.55. The stock has a 50-day moving average of $28.20 and a 200 day moving average of $29.40.

Altagas (TSE:ALA) last posted its earnings results on Thursday, July 27th. The company reported C$0.17 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.16 by C$0.01. The business had revenue of C$539.00 million during the quarter, compared to analyst estimates of C$633.11 million. Altagas had a negative return on equity of 0.93% and a net margin of 1.84%. On average, equities research analysts forecast that Altagas will post $0.93 earnings per share for the current year.

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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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