Algonquin Power & Utilities (NYSE:AQN) Raised to Hold at Wells Fargo & Company

Algonquin Power & Utilities (NYSE:AQN) was upgraded by equities research analysts at Wells Fargo & Company to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Wall Street Zen cut Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Desjardins reduced their price objective on Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Zacks Research cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Barclays initiated coverage on Algonquin Power & Utilities in a research report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 price objective for the company. Finally, Raymond James Financial raised Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $7.25 in a research report on Monday, March 9th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $6.77.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at $5.98 on Monday. The stock has a market cap of $4.60 billion, a PE ratio of 27.16 and a beta of 0.74. Algonquin Power & Utilities has a 12 month low of $5.32 and a 12 month high of $7.11. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $6.26.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $713.69 million during the quarter, compared to analysts’ expectations of $713.69 million. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.During the same quarter last year, the firm earned $0.14 earnings per share. On average, sell-side analysts anticipate that Algonquin Power & Utilities will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Algonquin Power & Utilities

Institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new position in Algonquin Power & Utilities during the third quarter valued at about $29,000. Group One Trading LLC raised its holdings in Algonquin Power & Utilities by 63.3% during the fourth quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock valued at $46,000 after buying an additional 2,900 shares in the last quarter. NewEdge Advisors LLC bought a new position in Algonquin Power & Utilities during the fourth quarter valued at about $47,000. Tudor Investment Corp ET AL bought a new position in Algonquin Power & Utilities during the fourth quarter valued at about $62,000. Finally, Fiera Capital Corp bought a new position in Algonquin Power & Utilities during the third quarter valued at about $55,000. 62.28% of the stock is currently owned by institutional investors.

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.