A Reversal for Altagas Ltd Is Not Near. The Stock Declines Again

 A Reversal for Altagas Ltd Is Not Near. The Stock Declines Again

The stock of Altagas Ltd (TSE:ALA) is a huge mover today! About 44,515 shares traded hands. Altagas Ltd (TSE:ALA) has risen 1.94% since April 19, 2016 and is uptrending. It has underperformed by 3.39% the S&P500.
The move comes after 6 months negative chart setup for the $5.36B company. It was reported on Nov, 23 by Barchart.com. We have $31.45 PT which if reached, will make TSE:ALA worth $214.40 million 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. $47 is the highest target while $31 is the lowest. The $35.60 average target is 8.67% above today’s ($32.76) stock price. AltaGas Ltd. has been the topic of 33 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Desjardins Securities given on Monday, October 24. As per Friday, October 2, the company rating was upgraded by Canaccord Genuity. On Friday, October 2 the stock rating was reinitiated by TD Securities with “Buy”. RBC Capital Markets maintained Altagas Ltd (TSE:ALA) on Tuesday, June 7 with “Sector Perform” rating. The rating was maintained by National Bank Canada with “Sector Perform” on Tuesday, June 7. The stock of Altagas Ltd (TSE:ALA) has “Hold” rating given on Friday, October 21 by GMP Securities. The firm has “Market Perform” rating by BMO Capital Markets given on Friday, October 23. The firm earned “Sector Perform” rating on Monday, January 25 by National Bank Canada. TD Securities maintained the shares of ALA in a report on Tuesday, June 28 with “Buy” rating. IBC 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: Theglobeandmail.com which released: “The Globe and Mail” on July 07, 2010, also Fool.ca with their article: “Dividend Investors: Is Altagas Ltd. or Inter Pipeline Ltd. a Better Pick Today?” published on November 21, 2016, Marketwired.com published: “AltaGas Ltd. Reports Strong Second Quarter Results and Increases Dividend 6.1 …” on July 21, 2016. More interesting news about Altagas Ltd (TSE:ALA) were released by: Business.Financialpost.com and their article: “AltaGas Ltd lays off 70 workers, expected to result in savings of $7 million a …” published on July 21, 2016 as well as Fool.ca‘s news article titled: “Can You Get a Safe Income From Altagas Ltd.?” with publication date: September 28, 2016.

AltaGas Ltd. is a Canada-based energy infrastructure company. The company has a market cap of $5.36 billion. The Firm operates through three divisions: Gas, Power and Utilities. It has a 84.05 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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