TD Securities Cuts Algonquin Power & Utilities (TSE:AQN) Price Target to C$6.00

Algonquin Power & Utilities (TSE:AQN) had its price objective lowered by TD Securities from C$6.50 to C$6.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price points to a potential downside of 28.74% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Janney Montgomery Scott upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Scotiabank upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Buy” and an average target price of C$6.38.

Algonquin Power & Utilities Trading Up 0.8%

AQN traded up C$0.07 during trading hours on Monday, reaching C$8.42. The company’s stock had a trading volume of 1,714,941 shares, compared to its average volume of 2,269,269. The business’s 50-day moving average is C$8.97 and its 200-day moving average is C$8.41. The stock has a market cap of C$6.47 billion, a PE ratio of -280.67, a P/E/G ratio of 1.07 and a beta of 1.20. Algonquin Power & Utilities has a fifty-two week low of C$6.31 and a fifty-two week high of C$9.69. The company has a debt-to-equity ratio of 138.56, a current ratio of 1.23 and a quick ratio of 0.37.

Algonquin Power & Utilities (TSE:AQN) last posted its earnings results on Friday, March 6th. The company reported C$0.08 earnings per share (EPS) for the quarter. The firm had revenue of C$829.86 million for the quarter. Algonquin Power & Utilities had a negative return on equity of 0.57% and a negative net margin of 1.11%. As a group, equities research analysts predict that Algonquin Power & Utilities will post 0.4650555 earnings per share for the current fiscal year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada.