Italgas (OTCMKTS:ITGGF) Shares Down 2.6% – Here’s What Happened

Italgas S.p.A. (OTCMKTS:ITGGF) dropped 2.6% during trading on Thursday . The stock traded as low as $12.37 and last traded at $12.37. Approximately 400 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 233 shares. The stock had previously closed at $12.7020.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Italgas in a report on Monday, November 3rd. Citigroup downgraded shares of Italgas to a “neutral” rating in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft cut Italgas to a “hold” rating in a research note on Monday, January 19th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Italgas in a research note on Wednesday, October 15th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Italgas currently has a consensus rating of “Moderate Buy”.

Italgas Stock Performance

The firm has a 50 day moving average of $11.29 and a two-hundred day moving average of $10.18.

Italgas Company Profile

Italgas S.p.A. is one of Europe’s leading operators in the regulated natural gas distribution sector. Through its network of concessions, the company designs, constructs and manages pipelines, metering stations and related infrastructure to deliver safe, efficient gas supply to residential, commercial and industrial end users. Its core business activities include network maintenance, emergency response services, and meter installation and management, all under long-term regulated tariffs set by national authorities.

Established in Turin in 1837, Italgas is among the oldest gas distribution companies in Europe.