Raymond James Lowers AltaGas (ALA) Price Target to C$23.00

AltaGas (TSE:ALA) had its price objective cut by equities research analysts at Raymond James from C$25.00 to C$23.00 in a report issued on Tuesday. Raymond James’ price objective suggests a potential downside of 10.22% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. CIBC dropped their target price on AltaGas from C$32.00 to C$31.00 in a report on Friday, April 27th. Scotiabank dropped their target price on AltaGas from C$33.00 to C$31.00 and set an “outperform” rating on the stock in a report on Friday, March 2nd. National Bank Financial dropped their target price on AltaGas from C$32.00 to C$28.00 and set a “sector perform” rating on the stock in a report on Friday, March 2nd. BMO Capital Markets dropped their target price on AltaGas from C$30.00 to C$26.00 in a report on Friday, March 2nd. Finally, Canaccord Genuity dropped their target price on AltaGas from C$28.00 to C$26.00 in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. AltaGas has a consensus rating of “Hold” and an average price target of C$27.57.

AltaGas opened at C$25.62 on Tuesday, Marketbeat Ratings reports. AltaGas has a 12-month low of C$22.82 and a 12-month high of C$30.84.

AltaGas (TSE:ALA) last released its earnings results on Thursday, April 26th. The company reported C$0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.41 by C($0.01). The company had revenue of C$878.40 million during the quarter, compared to analyst estimates of C$797.00 million. AltaGas had a negative net margin of 3.60% and a negative return on equity of 5.43%.

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.

Analyst Recommendations for AltaGas (TSE:ALA)

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.

Leave a Reply