Algonquin Power & Utilities (NYSE:AQN) Stock Rating Upgraded by StockNews.com

Algonquin Power & Utilities (NYSE:AQNGet Free Report) was upgraded by StockNews.com to a “sell” rating in a report issued on Friday.

Several other equities analysts have also commented on AQN. Scotiabank dropped their target price on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Desjardins raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating and upped their price objective for the company from $4.75 to $5.75 in a research note on Monday, March 11th. Finally, TD Securities raised their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Algonquin Power & Utilities has an average rating of “Hold” and a consensus price target of $7.67.

Check Out Our Latest Analysis on AQN

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $6.56 on Friday. The firm’s 50-day moving average is $6.17 and its two-hundred day moving average is $6.06. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.63 and a quick ratio of 0.50. The stock has a market capitalization of $4.52 billion, a P/E ratio of 218.67 and a beta of 0.64. Algonquin Power & Utilities has a 12-month low of $4.90 and a 12-month high of $9.14.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last released its earnings results on Friday, May 10th. The utilities provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Algonquin Power & Utilities had a return on equity of 5.64% and a net margin of 1.06%. The firm had revenue of $737.10 million during the quarter, compared to analysts’ expectations of $813.38 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Equities analysts predict that Algonquin Power & Utilities will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Pacifica Partners Inc. increased its position in shares of Algonquin Power & Utilities by 1,975.0% in the fourth quarter. Pacifica Partners Inc. now owns 4,150 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 3,950 shares in the last quarter. Parallel Advisors LLC increased its holdings in Algonquin Power & Utilities by 76.3% in the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 1,882 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Algonquin Power & Utilities in the third quarter valued at about $28,000. SG Americas Securities LLC acquired a new position in shares of Algonquin Power & Utilities during the fourth quarter worth about $64,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in shares of Algonquin Power & Utilities in the third quarter worth about $62,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

About Algonquin Power & Utilities

(Get Free Report)

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.

Further Reading

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

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