Algonquin Power & Utilities (NYSE:AQN) PT Lowered to $11.50

Algonquin Power & Utilities (NYSE:AQNGet Rating) had its price target decreased by research analysts at Raymond James from $18.00 to $11.50 in a research note issued to investors on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Raymond James’ target price would suggest a potential upside of 47.63% from the company’s current price.

A number of other research analysts have also weighed in on AQN. Royal Bank of Canada lowered Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $17.00 to $12.00 in a report on Monday. Wells Fargo & Company dropped their target price on Algonquin Power & Utilities from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. Desjardins lowered Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Monday. National Bank Financial lowered Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating in a report on Monday. Finally, Credit Suisse Group decreased their price target on Algonquin Power & Utilities from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and an average target price of $12.47.

Algonquin Power & Utilities Stock Down 2.3 %

AQN stock opened at $7.79 on Monday. Algonquin Power & Utilities has a twelve month low of $7.68 and a twelve month high of $16.01. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average is $11.38 and its 200-day moving average is $13.03. The firm has a market capitalization of $5.28 billion, a PE ratio of 129.83, a P/E/G ratio of 1.82 and a beta of 0.54.

Institutional Trading of Algonquin Power & Utilities

A number of large investors have recently bought and sold shares of AQN. Mercer Global Advisors Inc. ADV grew its position in shares of Algonquin Power & Utilities by 23.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 66,843 shares of the utilities provider’s stock valued at $1,037,000 after purchasing an additional 12,849 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Algonquin Power & Utilities by 20.2% in the second quarter. Vontobel Holding Ltd. now owns 292,758 shares of the utilities provider’s stock valued at $3,950,000 after purchasing an additional 49,220 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Algonquin Power & Utilities by 34.2% in the second quarter. Bank of Nova Scotia now owns 13,548,918 shares of the utilities provider’s stock valued at $182,094,000 after purchasing an additional 3,449,550 shares in the last quarter. Metis Global Partners LLC purchased a new position in shares of Algonquin Power & Utilities in the first quarter valued at $381,000. Finally, Advisor Group Holdings Inc. grew its position in shares of Algonquin Power & Utilities by 17.8% in the first quarter. Advisor Group Holdings Inc. now owns 60,543 shares of the utilities provider’s stock valued at $939,000 after purchasing an additional 9,168 shares in the last quarter. 39.99% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

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Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment operates a portfolio of rate-regulated utilities located in the United States, Canada, Chile, and Bermuda.

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Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

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