Algonquin Power & Utilities (NYSE:AQN) Upgraded by StockNews.com to “Sell”

Algonquin Power & Utilities (NYSE:AQNGet Free Report) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued to clients and investors on Wednesday.

AQN has been the subject of a number of other research reports. TD Securities increased their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “hold” rating in a report on Monday, March 11th. National Bankshares dropped their target price on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating for the company in a report on Tuesday, January 9th. CIBC raised their target price on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Desjardins upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating and raised their target price for the company from $4.75 to $5.75 in a report on Monday, March 11th. Finally, BMO Capital Markets upgraded shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and raised their target price for the company from $7.00 to $7.50 in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus target price of $7.85.

View Our Latest Research Report on AQN

Algonquin Power & Utilities Price Performance

Shares of AQN traded up $0.08 during trading hours on Wednesday, reaching $5.76. The company had a trading volume of 4,284,382 shares, compared to its average volume of 4,832,372. The firm has a 50 day simple moving average of $6.02 and a 200-day simple moving average of $5.97. The company has a current ratio of 0.63, a quick ratio of 0.50 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 191.83 and a beta of 0.66. Algonquin Power & Utilities has a 12-month low of $4.90 and a 12-month high of $9.14.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last announced its quarterly earnings results on Friday, March 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $666.90 million during the quarter, compared to the consensus estimate of $661.73 million. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The business’s revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. Research analysts expect that Algonquin Power & Utilities will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alpha Omega Wealth Management LLC grew its holdings in shares of Algonquin Power & Utilities by 8.2% during the first quarter. Alpha Omega Wealth Management LLC now owns 592,430 shares of the utilities provider’s stock worth $3,744,000 after buying an additional 44,714 shares in the last quarter. DGS Capital Management LLC acquired a new stake in shares of Algonquin Power & Utilities in the first quarter worth approximately $169,000. Nomura Holdings Inc. acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter worth approximately $318,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Algonquin Power & Utilities by 166.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,266,810 shares of the utilities provider’s stock worth $7,997,000 after acquiring an additional 791,410 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Algonquin Power & Utilities by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 25,986,559 shares of the utilities provider’s stock worth $164,235,000 after acquiring an additional 268,800 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

(Get Free Report)

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.

Further Reading

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

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