CIBC Cuts Algonquin Power & Utilities (AQN) Price Target to C$15.50

Algonquin Power & Utilities (TSE:AQN) had its target price reduced by equities researchers at CIBC from C$16.00 to C$15.50 in a note issued to investors on Monday. CIBC’s price objective points to a potential upside of 24.20% from the stock’s current price.

A number of other brokerages have also recently commented on AQN. BMO Capital Markets decreased their price objective on Algonquin Power & Utilities from C$16.00 to C$15.50 in a research note on Tuesday, February 6th. National Bank Financial decreased their price objective on Algonquin Power & Utilities from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. TD Securities decreased their price objective on Algonquin Power & Utilities from C$16.00 to C$15.50 and set a “buy” rating for the company in a research note on Monday, March 5th. Raymond James lifted their price objective on Algonquin Power & Utilities from C$16.00 to C$16.50 and gave the stock a “strong-buy” rating in a research note on Wednesday, March 14th. Finally, Desjardins lifted their price objective on Algonquin Power & Utilities from C$15.50 to C$15.75 in a research note on Wednesday, April 18th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$15.42.

Shares of Algonquin Power & Utilities traded up C$0.19, hitting C$12.48, during midday trading on Monday, according to MarketBeat.com. The stock had a trading volume of 1,077,872 shares, compared to its average volume of 1,157,114. Algonquin Power & Utilities has a fifty-two week low of C$12.18 and a fifty-two week high of C$14.40.

Algonquin Power & Utilities (TSE:AQN) last released its earnings results on Thursday, March 1st. The company reported C$0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.15 by C$0.05. The company had revenue of C$523.40 million during the quarter, compared to analysts’ expectations of C$529.23 million. Algonquin Power & Utilities had a return on equity of 8.59% and a net margin of 11.03%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates regulated and non-regulated generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

Analyst Recommendations for Algonquin Power & Utilities (TSE:AQN)

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