AltaGas (TSE:ALA – Get Free Report) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. They currently have a C$37.00 price target on the stock, up from their previous price target of C$36.00.
A number of other research analysts also recently issued reports on ALA. ATB Capital set a C$36.00 target price on shares of AltaGas and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Scotiabank increased their price objective on shares of AltaGas from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. National Bankshares boosted their target price on AltaGas from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. CIBC increased their price target on AltaGas from C$38.00 to C$40.00 in a report on Monday, July 15th. Finally, Royal Bank of Canada upped their target price on AltaGas from C$37.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$38.10.
Check Out Our Latest Stock Analysis on AltaGas
AltaGas Stock Performance
AltaGas (TSE:ALA – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported C$0.14 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.02. AltaGas had a return on equity of 5.78% and a net margin of 3.58%. The business had revenue of C$2.78 billion during the quarter, compared to analysts’ expectations of C$2.54 billion. As a group, research analysts predict that AltaGas will post 2.3006093 EPS for the current fiscal year.
Insider Buying and Selling
In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00. In other AltaGas news, Director Aaron Bishop sold 19,820 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$33.58, for a total value of C$665,555.60. Also, Senior Officer Randy Warren Toone sold 3,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$35.32, for a total value of C$105,960.00. Over the last ninety days, insiders have sold 33,320 shares of company stock worth $1,125,051. 0.58% of the stock is owned by insiders.
AltaGas Company Profile
AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.
Recommended Stories
- Five stocks we like better than AltaGas
- What is the S&P/TSX Index?
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- ESG Stocks, What Investors Should Know
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- What is the Shanghai Stock Exchange Composite Index?
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for AltaGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AltaGas and related companies with MarketBeat.com's FREE daily email newsletter.