Could Altagas Ltd See a Reversal After This Very Strong Session?

 Could Altagas Ltd See a Reversal After This Very Strong Session?

The stock of Altagas Ltd (TSE:ALA) is a huge mover today! About 38,019 shares traded hands. Altagas Ltd (TSE:ALA) has declined 4.09% since April 8, 2016 and is downtrending. It has underperformed by 9.08% the S&P500.
The move comes after 9 months positive chart setup for the $5.07 billion company. It was reported on Nov, 14 by Barchart.com. We have $45.53 PT which if reached, will make TSE:ALA worth $2.23B more.

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. $47 is the highest target while $31 is the lowest. The $35.60 average target is 12.59% above today’s ($31.62) stock price. AltaGas Ltd. has been the topic of 33 analyst reports since July 31, 2015 according to StockzIntelligence Inc. National Bank Canada downgraded the shares of ALA in a report on Monday, January 25 to “Sector Perform” rating. The firm has “Buy” rating by TD Securities given on Friday, October 2. The firm earned “Sector Perform” rating on Tuesday, June 7 by IBC. The rating was maintained by TD Securities with “Buy” on Tuesday, June 28. The firm earned “Buy” rating on Monday, October 24 by Desjardins Securities. The firm has “Market Perform” rating by BMO Capital Markets given on Friday, October 23. Canaccord Genuity upgraded Altagas Ltd (TSE:ALA) on Friday, October 2 to “Buy” rating. RBC Capital Markets maintained it with “Sector Perform” rating and $33 target price in Tuesday, June 7 report. The firm earned “Hold” rating on Friday, October 21 by GMP Securities. National Bank Canada maintained the shares of ALA in a report on Tuesday, June 7 with “Sector Perform” rating.

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 Fool.ca with their article: “Can You Get a Safe Income From Altagas Ltd.?” published on September 28, 2016, Fool.ca published: “5 Top Reasons to Invest in Altagas Ltd.” on August 18, 2016. More interesting news about Altagas Ltd (TSE:ALA) were released by: Fool.ca and their article: “Altagas Ltd.: This Dividend-Growth Machine Is a Screaming Buy” published on June 14, 2016 as well as Marketwired.com‘s news article titled: “AltaGas Ltd. Reports 2015 Fourth Quarter and Year End Results” with publication date: February 25, 2016.

AltaGas Ltd. is a Canada-based energy infrastructure company. The company has a market cap of $5.07 billion. The Firm operates through three divisions: Gas, Power and Utilities. It has a 81.13 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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