Algonquin Power & Utilities (NYSE:AQN) Price Target Raised to $7.25

Algonquin Power & Utilities (NYSE:AQN) had its price target increased by Desjardins from $7.00 to $7.25 in a research report released on Thursday,BayStreet.CA reports. They currently have a buy rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research note on Monday, December 29th. Scotiabank raised Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target for the company in a research report on Tuesday, December 16th. Janney Montgomery Scott set a $7.00 price objective on Algonquin Power & Utilities in a research report on Monday, November 10th. National Bank Financial upgraded Algonquin Power & Utilities from a “sector perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research note on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.75.

Algonquin Power & Utilities Price Performance

NYSE AQN opened at $6.51 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities has a 12 month low of $4.29 and a 12 month high of $6.68. The company’s 50 day moving average is $6.25 and its two-hundred day moving average is $5.96. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -162.71 and a beta of 0.76.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. The business had revenue of $600.80 million for the quarter, compared to the consensus estimate of $596.67 million. During the same quarter last year, the firm posted $0.08 EPS. As a group, research analysts anticipate that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $29,000. Fiera Capital Corp purchased a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $55,000. Vise Technologies Inc. purchased a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $56,000. Wedbush Securities Inc. acquired a new position in Algonquin Power & Utilities during the 2nd quarter valued at approximately $58,000. Finally, Davis Rea LTD. purchased a new position in shares of Algonquin Power & Utilities in the third quarter worth $67,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.