Algonquin Power & Utilities (NYSE:AQN) Given New $5.50 Price Target at Royal Bank of Canada

Algonquin Power & Utilities (NYSE:AQN) had its target price cut by Royal Bank of Canada from $6.00 to $5.50 in a research report report published on Tuesday,Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

A number of other brokerages have also recently weighed in on AQN. Scotiabank boosted their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. CIBC reduced their price objective on 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Finally, National Bankshares reduced their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Algonquin Power & Utilities has an average rating of “Hold” and an average price target of $6.00.

Algonquin Power & Utilities Price Performance

AQN stock opened at $4.87 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. The business has a 50 day moving average price of $4.48 and a 200 day moving average price of $4.93. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -3.77 and a beta of 0.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AQN. SVB Wealth LLC acquired a new position in Algonquin Power & Utilities during the fourth quarter worth $49,000. Capstone Investment Advisors LLC acquired a new position in Algonquin Power & Utilities during the third quarter worth $58,000. Avantax Advisory Services Inc. acquired a new position in Algonquin Power & Utilities during the fourth quarter worth $58,000. Walleye Capital LLC acquired a new position in Algonquin Power & Utilities during the third quarter worth $59,000. Finally, Verdence Capital Advisors LLC acquired a new position in Algonquin Power & Utilities during the third quarter worth $61,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

About Algonquin Power & Utilities

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.