Scotiabank Issues Positive Forecast for Algonquin Power & Utilities (NYSE:AQN) Stock Price

Algonquin Power & Utilities (NYSE:AQN - Free Report) had its target price boosted by Scotiabank from $5.25 to $5.50 in a research note issued to investors on Thursday morning, Marketbeat.com reports. Scotiabank currently has a sector perform rating on the utilities provider's stock.

AQN has been the subject of several other reports. National Bankshares dropped their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating for the company in a research report on Wednesday, October 16th. Finally, CIBC lowered their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.05.

Algonquin Power & Utilities Trading Up 0.9 %

Shares of NYSE:AQN traded up $0.05 on Thursday, hitting $4.85. The company had a trading volume of 11,576,943 shares, compared to its average volume of 8,063,363. The firm's 50-day simple moving average is $4.48 and its two-hundred day simple moving average is $4.94. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.79. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -3.76 and a beta of 0.69.

Institutional Trading of Algonquin Power & Utilities

Institutional investors and hedge funds have recently bought and sold shares of the company. Redwood Investment Management LLC grew its stake in shares of Algonquin Power & Utilities by 5.2% in the fourth quarter. Redwood Investment Management LLC now owns 531,628 shares of the utilities provider's stock worth $2,366,000 after acquiring an additional 26,329 shares during the period. Polar Asset Management Partners Inc. bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter worth approximately $957,000. Man Group plc grew its stake in shares of Algonquin Power & Utilities by 51.6% in the fourth quarter. Man Group plc now owns 4,353,269 shares of the utilities provider's stock worth $19,372,000 after acquiring an additional 1,482,534 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Algonquin Power & Utilities by 237.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,939,576 shares of the utilities provider's stock worth $13,040,000 after acquiring an additional 2,068,510 shares during the period. Finally, Maven Securities LTD bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter worth approximately $445,000. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Company Profile

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.