Algonquin Power & Utilities (NYSE:AQN – Get Free Report) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Monday, Briefing.com reports. They currently have a $6.00 price target on the utilities provider’s stock, down from their prior price target of $8.50. Wells Fargo & Company‘s price target points to a potential upside of 10.91% from the company’s current price.
A number of other brokerages have also recently issued reports on AQN. National Bankshares increased their target price on shares of Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 28th. CIBC increased their price target on Algonquin Power & Utilities from $7.50 to $7.70 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. StockNews.com raised Algonquin Power & Utilities to a “sell” rating in a research report on Friday, May 10th. Scotiabank reduced their price objective on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.74.
View Our Latest Stock Report on AQN
Algonquin Power & Utilities Price Performance
Shares of Algonquin Power & Utilities stock opened at $5.41 on Monday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -11.04 and a beta of 0.66. The firm has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $6.10. Algonquin Power & Utilities has a 1-year low of $4.90 and a 1-year high of $7.95. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.42.
Algonquin Power & Utilities (NYSE:AQN – Get Free Report) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Algonquin Power & Utilities had a negative net margin of 12.44% and a positive return on equity of 5.39%. The business had revenue of $598.60 million for the quarter, compared to analyst estimates of $635.95 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Algonquin Power & Utilities’s revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Algonquin Power & Utilities will post 0.46 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP raised its stake in shares of Algonquin Power & Utilities by 86.1% in the second quarter. Quantbot Technologies LP now owns 707,707 shares of the utilities provider’s stock worth $4,147,000 after purchasing an additional 327,455 shares during the last quarter. Rock Point Advisors LLC raised its position in Algonquin Power & Utilities by 69.7% during the 2nd quarter. Rock Point Advisors LLC now owns 797,539 shares of the utilities provider’s stock valued at $4,674,000 after purchasing an additional 327,520 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Algonquin Power & Utilities by 173.4% during the 2nd quarter. American Century Companies Inc. now owns 209,546 shares of the utilities provider’s stock valued at $1,231,000 after purchasing an additional 132,900 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth about $141,000. Finally, Triasima Portfolio Management inc. bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth approximately $3,164,000. 62.28% of the stock is owned by institutional investors.
Algonquin Power & Utilities Company Profile
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.
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