Algonquin Power & Utilities (NYSE:AQN) Given New $5.75 Price Target at Scotiabank

Algonquin Power & Utilities (NYSE:AQN) had its price target lowered by research analysts at Scotiabank from $6.50 to $5.75 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential upside of 12.52% from the company’s previous close.

A number of other research analysts have also recently weighed in on AQN. StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a research report on Friday, May 10th. Desjardins cut their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a research note on Monday. Royal Bank of Canada decreased their price objective on Algonquin Power & Utilities from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Tuesday. Wells Fargo & Company lowered Algonquin Power & Utilities from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.50 to $6.00 in a research report on Monday. Finally, National Bankshares raised their target price on Algonquin Power & Utilities from $6.75 to $7.25 and gave the company a “sector perform” rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of “Hold” and a consensus target price of $6.36.

Algonquin Power & Utilities Price Performance

Shares of Algonquin Power & Utilities stock traded down $0.04 during trading on Tuesday, reaching $5.11. The company’s stock had a trading volume of 4,931,816 shares, compared to its average volume of 5,543,746. The business has a 50 day moving average price of $5.99 and a 200-day moving average price of $6.10. The company has a market capitalization of $3.92 billion, a P/E ratio of -10.43 and a beta of 0.66. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. Algonquin Power & Utilities has a 12-month low of $4.90 and a 12-month high of $7.67.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $635.95 million. Algonquin Power & Utilities had a negative net margin of 12.44% and a positive return on equity of 5.39%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Algonquin Power & Utilities will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in Algonquin Power & Utilities by 76.3% in the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $27,000 after buying an additional 1,882 shares during the period. Claro Advisors LLC bought a new stake in Algonquin Power & Utilities during the second quarter worth about $61,000. SG Americas Securities LLC acquired a new stake in Algonquin Power & Utilities during the 4th quarter valued at $64,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Algonquin Power & Utilities in the second quarter valued at $66,000. Finally, Seven Mile Advisory bought a new position in shares of Algonquin Power & Utilities in the fourth quarter worth about $67,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile

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.