David Wallace Cornhill Sells 2,000 Shares of Altagas Ltd (ALA) Stock

Altagas Ltd (TSE:ALA) Director David Wallace Cornhill sold 2,000 shares of Altagas stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of C$29.20, for a total transaction of C$58,400.00.

The company also recently announced a monthly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, September 25th were issued a $0.175 dividend. This represents a $2.10 annualized dividend and a yield of 7.14%. The ex-dividend date of this dividend was Friday, September 22nd.

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A number of equities research analysts have issued reports on ALA shares. BMO Capital Markets reissued a “market perform” rating and set a C$32.00 target price on shares of Altagas in a research note on Friday, October 20th. CIBC decreased their target price on shares of Altagas from C$38.00 to C$35.00 in a research note on Friday, October 20th. Scotiabank decreased their target price on shares of Altagas from C$36.00 to C$34.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. Beacon Securities reissued a “buy” rating on shares of Altagas in a research note on Thursday, September 21st. Finally, Raymond James Financial, Inc. decreased their target price on shares of Altagas from C$32.00 to C$30.00 and set a “market perform” rating for the company in a research note on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Altagas has a consensus rating of “Buy” and an average target price of C$33.75.

Altagas Company Profile

AltaGas Ltd is a Canada-based energy infrastructure company. The Company operates through three segments: Gas, Power and Utilities. The Gas segment transacts approximately two billion cubic feet per day (Bcf/d) 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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