Algonquin Power & Utilities (NYSE:AQN - Get Free Report) had its price objective decreased by analysts at Scotiabank from $5.75 to $5.25 in a report issued on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the utilities provider's stock. Scotiabank's price target indicates a potential upside of 9.38% from the company's current price.
Other analysts have also issued reports about the company. Desjardins reduced their price objective on Algonquin Power & Utilities from $5.50 to $5.25 and set a "hold" rating on the stock in a research note on Monday, August 12th. Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a report on Thursday, September 5th. They set a "neutral" rating and a $6.00 price target on the stock. Raymond James downgraded shares of Algonquin Power & Utilities from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $7.75 to $7.00 in a research note on Monday, August 12th. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 price target on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Finally, Wells Fargo & Company cut their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.18.
Read Our Latest Stock Report on Algonquin Power & Utilities
Algonquin Power & Utilities Price Performance
Shares of NYSE AQN traded down $0.01 during mid-day trading on Friday, reaching $4.80. The company had a trading volume of 4,133,799 shares, compared to its average volume of 5,640,536. The business's 50-day simple moving average is $5.20 and its 200 day simple moving average is $5.75. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 30.06 and a beta of 0.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.78 and a current ratio of 0.97. Algonquin Power & Utilities has a one year low of $4.67 and a one year high of $6.79.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The business had revenue of $573.20 million for the quarter, compared to analysts' expectations of $620.46 million. During the same period last year, the firm posted $0.11 earnings per share. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that Algonquin Power & Utilities will post 0.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Algonquin Power & Utilities
Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Algonquin Power & Utilities by 151.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,900 shares of the utilities provider's stock valued at $176,000 after acquiring an additional 16,800 shares during the last quarter. Quantbot Technologies LP boosted its stake in Algonquin Power & Utilities by 113.9% in the first quarter. Quantbot Technologies LP now owns 380,252 shares of the utilities provider's stock valued at $2,403,000 after acquiring an additional 202,489 shares during the last quarter. M&G Plc purchased a new stake in shares of Algonquin Power & Utilities during the first quarter worth $4,887,000. Vanguard Group Inc. raised its position in shares of Algonquin Power & Utilities by 1.0% in the first quarter. Vanguard Group Inc. now owns 26,248,892 shares of the utilities provider's stock worth $165,893,000 after buying an additional 262,333 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Algonquin Power & Utilities by 6.5% in the 1st quarter. National Bank of Canada FI now owns 10,223,412 shares of the utilities provider's stock valued at $67,050,000 after acquiring an additional 620,593 shares in the last quarter. 62.28% of the stock is owned by institutional investors.
About Algonquin Power & Utilities
(
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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.
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