Algonquin Power & Utilities (NYSE:AQN) Earns Neutral Rating from JPMorgan Chase & Co.

Algonquin Power & Utilities (NYSE:AQN)‘s stock had its “neutral” rating reissued by stock analysts at JPMorgan Chase & Co. in a research report issued on Thursday, Marketbeat.com reports. They presently have a $7.00 target price on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 56.77% from the stock’s previous close.

AQN has been the topic of a number of other research reports. Janney Montgomery Scott assumed coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price target on the stock. CIBC reduced their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Scotiabank cut their target price on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.25.

Algonquin Power & Utilities Trading Down 1.4 %

Shares of NYSE AQN opened at $4.47 on Thursday. Algonquin Power & Utilities has a fifty-two week low of $4.42 and a fifty-two week high of $6.79. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -3.46 and a beta of 0.68. The business’s 50 day moving average price is $4.87 and its 200-day moving average price is $5.44.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. On average, sell-side analysts expect that Algonquin Power & Utilities will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AQN. Swiss National Bank increased its holdings in shares of Algonquin Power & Utilities by 10.4% in the third quarter. Swiss National Bank now owns 1,433,000 shares of the utilities provider’s stock valued at $7,843,000 after purchasing an additional 135,400 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Algonquin Power & Utilities by 156.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider’s stock worth $52,341,000 after purchasing an additional 5,426,523 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Algonquin Power & Utilities by 6.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider’s stock valued at $42,105,000 after purchasing an additional 447,246 shares during the last quarter. Troluce Capital Advisors LLC boosted its holdings in Algonquin Power & Utilities by 33.3% in the 2nd quarter. Troluce Capital Advisors LLC now owns 2,575,000 shares of the utilities provider’s stock valued at $15,090,000 after purchasing an additional 643,352 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $7,173,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

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.