Algonquin Power & Utilities Corp. (NYSE:AQN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.6667.

A number of research firms recently issued reports on AQN. Scotiabank raised shares of Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target on the stock in a research note on Tuesday, December 16th. National Bank Financial set a $7.50 target price on shares of Algonquin Power & Utilities in a research report on Wednesday, January 7th. Zacks Research raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Natl Bk Canada upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Raymond James Financial lifted their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a report on Friday, October 24th.

Algonquin Power & Utilities Stock Up 0.7%

Shares of AQN stock opened at $6.66 on Friday. Algonquin Power & Utilities has a twelve month low of $4.29 and a twelve month high of $6.68. The stock has a market cap of $5.11 billion, a P/E ratio of -166.33 and a beta of 0.76. The stock has a 50 day moving average of $6.30 and a 200 day moving average of $5.97. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26.

Institutional Trading of Algonquin Power & Utilities

Several large investors have recently added to or reduced their stakes in AQN. Quarry LP acquired a new position in Algonquin Power & Utilities in the third quarter valued at about $29,000. Group One Trading LLC raised its stake in shares of Algonquin Power & Utilities by 63.3% in the 4th quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 2,900 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of Algonquin Power & Utilities in the 2nd quarter valued at approximately $58,000. Fiera Capital Corp acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth approximately $55,000. Finally, Vise Technologies Inc. purchased a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $56,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.