What Next for Altagas Ltd Stock After Today’s Huge Decline?

 What Next for Altagas Ltd Stock After Today's Huge Decline?

The stock of Altagas Ltd (TSE:ALA) is a huge mover today! The stock decreased 2.98% or $0.98 on November 2, hitting $31.86. About 856,739 shares traded hands or 156.89% up from the average. Altagas Ltd (TSE:ALA) has risen 1.42% since March 29, 2016 and is uptrending. It has underperformed by 1.10% the S&P500.
The move comes after 5 months negative chart setup for the $5.16B company. It was reported on Nov, 2 by Barchart.com. We have $29.31 PT which if reached, will make TSE:ALA worth $412.80M less.

Altagas Ltd (TSE:ALA) Ratings Coverage

Out of 8 analysts covering AltaGas Ltd. (TSE:ALA), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. AltaGas Ltd. has been the topic of 33 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Monday, October 24 by Desjardins Securities. GMP Securities downgraded the shares of ALA in a report on Friday, October 21 to “Hold” rating. As per Friday, October 2, the company rating was reinitiated by TD Securities. On Tuesday, June 7 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The firm has “Buy” rating given on Friday, October 2 by Canaccord Genuity. BMO Capital Markets initiated Altagas Ltd (TSE:ALA) rating on Friday, October 23. BMO Capital Markets has “Market Perform” rating and $36.50 price target. National Bank Canada maintained the stock with “Sector Perform” rating in Tuesday, June 7 report. The stock has “Sector Perform” rating given by National Bank Canada on Monday, January 25. IBC maintained the shares of ALA in a report on Tuesday, June 7 with “Sector Perform” rating. On Tuesday, June 28 the stock rating was maintained by TD Securities with “Buy”.

More notable recent Altagas Ltd (TSE:ALA) news were published by: Business.Financialpost.com which released: “AltaGas Ltd lays off 70 workers, expected to result in savings of $7 million a …” on July 21, 2016, also Business.Financialpost.com with their article: “AltaGas Ltd shelves Douglas Channel LNG plans amid global surplus” published on February 25, 2016, Fool.ca published: “Why Altagas Ltd. Jumped 4% in a Day” on October 21, 2016. More interesting news about Altagas Ltd (TSE:ALA) were released by: Marketwired.com and their article: “AltaGas Ltd. Reports 2015 Fourth Quarter and Year End Results” published on February 25, 2016 as well as Marketwired.com‘s news article titled: “AltaGas Ltd. Announces Close of GWF Acquisition” with publication date: November 30, 2015.

AltaGas Ltd. is a Canada-based energy infrastructure company. The company has a market cap of $5.16 billion. The Firm operates through three divisions: Gas, Power and Utilities. It has a 81.74 P/E ratio. The Gas segment transacts approximately two billion cubic feet per day 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.

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