Algonquin Power & Utilities (NYSE:AQN) PT Raised to $7.70

Algonquin Power & Utilities (NYSE:AQN) had its price objective hoisted by research analysts at CIBC from $7.50 to $7.70 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. CIBC’s target price would suggest a potential upside of 28.44% from the company’s current price.

Several other analysts also recently commented on AQN. Wells Fargo & Company upped their price objective on shares of Algonquin Power & Utilities from $8.00 to $8.50 and gave the company an “overweight” rating in a report on Monday, May 13th. National Bankshares increased their price target on shares of Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 28th. StockNews.com raised shares of Algonquin Power & Utilities to a “sell” rating in a report on Friday, May 10th. Desjardins increased their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Finally, TD Securities increased their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.49.

Algonquin Power & Utilities Stock Up 1.4 %

AQN stock opened at $6.00 on Tuesday. The firm’s fifty day simple moving average is $6.23 and its 200-day simple moving average is $6.15. The company has a market capitalization of $4.60 billion, a P/E ratio of -12.23 and a beta of 0.66. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.79. Algonquin Power & Utilities has a 12 month low of $4.90 and a 12 month high of $8.49.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $737.10 million during the quarter, compared to analysts’ expectations of $813.38 million. Algonquin Power & Utilities had a negative net margin of 12.44% and a positive return on equity of 5.39%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. As a group, equities research analysts forecast that Algonquin Power & Utilities will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

Hedge funds have recently modified their holdings of the business. Pacifica Partners Inc. grew its holdings in shares of Algonquin Power & Utilities by 1,975.0% in the fourth quarter. Pacifica Partners Inc. now owns 4,150 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 3,950 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Algonquin Power & Utilities by 76.3% in the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 1,882 shares in the last quarter. SG Americas Securities LLC acquired a new position in Algonquin Power & Utilities during the 4th quarter worth approximately $64,000. Seven Mile Advisory acquired a new position in Algonquin Power & Utilities during the 4th quarter worth approximately $67,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Algonquin Power & Utilities during the 4th quarter worth approximately $70,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

About Algonquin Power & Utilities

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.