Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.00 Consensus Target Price from Analysts

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) have been assigned an average rating of "Hold" from the eleven analysts that are covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.00.

Several research analysts have weighed in on AQN shares. Scotiabank lifted their target price on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a research report on Tuesday, February 18th. National Bankshares lowered their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $7.00 price target on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th.

Institutional Investors Weigh In On Algonquin Power & Utilities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC increased its position in shares of Algonquin Power & Utilities by 14.1% in the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider's stock valued at $97,000 after acquiring an additional 2,201 shares during the last quarter. Private Management Group Inc. bought a new position in Algonquin Power & Utilities in the third quarter valued at approximately $12,361,000. Van ECK Associates Corp acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $1,058,000. Fiera Capital Corp bought a new stake in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $96,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at approximately $61,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Down 0.9 %

Shares of NYSE AQN traded down $0.05 during midday trading on Friday, reaching $4.74. 7,817,758 shares of the stock were exchanged, compared to its average volume of 9,097,017. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.79. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -3.68 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The business has a 50-day simple moving average of $4.56 and a two-hundred day simple moving average of $4.88.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.