Brokerages Set Algonquin Power & Utilities Corp. (NYSE:AQN) PT at $6.13

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have received a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $6.13.

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. CIBC dropped their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Scotiabank reduced their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 price target on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price objective on 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.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at $4.57 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The company’s fifty day moving average price is $4.50 and its 200-day moving average price is $5.02. Algonquin Power & Utilities has a 1-year low of $4.19 and a 1-year high of $6.79. The firm has a market capitalization of $3.50 billion, a PE ratio of -3.54 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The firm had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of institutional investors have recently added to or reduced their stakes in AQN. Squarepoint Ops LLC lifted its holdings in Algonquin Power & Utilities by 100.3% during the second quarter. Squarepoint Ops LLC now owns 56,573 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 28,332 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Algonquin Power & Utilities in the 2nd quarter worth about $144,000. A. D. Beadell Investment Counsel Inc. purchased a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $186,000. Wedge Capital Management L L P NC acquired a new position in shares of Algonquin Power & Utilities during the third quarter valued at approximately $3,586,000. Finally, Bfsg LLC purchased a new position in shares of Algonquin Power & Utilities in the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

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.