National Bank Financial Reaffirms Sector Perform Rating for Altagas (ALA)

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National Bank Financial reiterated their sector perform rating on shares of Altagas (TSE:ALA) in a research note published on Tuesday. National Bank Financial currently has a C$15.50 price objective on the stock.

A number of other brokerages have also recently issued reports on ALA. Raymond James decreased their price objective on shares of Altagas from C$24.00 to C$22.00 in a research note on Friday, October 5th. BMO Capital Markets decreased their price objective on shares of Altagas from C$27.00 to C$26.00 in a research note on Tuesday, September 11th. CIBC decreased their price objective on shares of Altagas from C$32.00 to C$30.00 in a research note on Tuesday, September 11th. Industrial Alliance Securities decreased their price objective on shares of Altagas from C$29.50 to C$28.50 in a research note on Monday, September 17th. Finally, TD Securities reissued a buy rating and issued a C$16.50 price objective on shares of Altagas in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Altagas has a consensus rating of Hold and an average price target of C$22.10.

Shares of TSE:ALA opened at C$15.75 on Tuesday. The company has a debt-to-equity ratio of 147.75, a current ratio of 0.77 and a quick ratio of 0.21. Altagas has a 1 year low of C$14.25 and a 1 year high of C$29.72.

The business also recently announced a monthly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.183 per share. The ex-dividend date is Friday, November 23rd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.94%. Altagas’s payout ratio is presently -62.95%.

In other Altagas news, insider Jared Blake Green sold 4,750 shares of the business’s stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of C$21.02, for a total transaction of C$99,845.00. Also, Director Phillip R. Knoll bought 2,500 shares of the firm’s stock in a transaction on Tuesday, September 25th. The shares were bought at an average cost of C$20.91 per share, for a total transaction of C$52,275.00.

About Altagas

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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Analyst Recommendations for Altagas (TSE:ALA)

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