Weiss Ratings Reiterates “Sell (D)” Rating for Algonquin Power & Utilities (NYSE:AQN)

Algonquin Power & Utilities (NYSE:AQN)‘s stock had its “sell (d)” rating reissued by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts also recently commented on AQN. TD Securities upgraded Algonquin Power & Utilities to a “hold” rating in a research report on Monday, August 11th. Wall Street Zen upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Desjardins upgraded Algonquin Power & Utilities from a “hold” rating to a “buy” rating and upped their price objective for the company from $6.00 to $6.25 in a research report on Wednesday, October 1st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.41.

Algonquin Power & Utilities Stock Down 1.5%

AQN opened at $5.80 on Wednesday. The business’s fifty day moving average is $5.69 and its two-hundred day moving average is $5.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -3.22 and a beta of 0.72. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.24.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $535.59 million for the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a positive return on equity of 4.76% and a negative net margin of 57.66%.During the same period in the previous year, the business earned $0.09 earnings per share. Analysts anticipate that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Algonquin Power & Utilities

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its position in Algonquin Power & Utilities by 85.7% during the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock worth $25,000 after buying an additional 2,256 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Algonquin Power & Utilities during the first quarter worth about $31,000. Atria Wealth Solutions Inc. purchased a new position in Algonquin Power & Utilities during the first quarter worth about $51,000. Wedbush Securities Inc. acquired a new stake in Algonquin Power & Utilities during the second quarter worth about $58,000. Finally, Sowell Financial Services LLC acquired a new stake in Algonquin Power & Utilities during the first quarter worth about $59,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.