Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.13 Consensus Target Price from Analysts

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.13.

A number of brokerages have issued reports on AQN. Wells Fargo & Company reduced their price target 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. Scotiabank reduced their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. CIBC dropped 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 note on Tuesday, October 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, October 11th.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AQN. SVB Wealth LLC acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at $49,000. Capstone Investment Advisors LLC acquired a new stake in Algonquin Power & Utilities in the 3rd quarter valued at about $58,000. Walleye Capital LLC acquired a new stake in Algonquin Power & Utilities in the 3rd quarter valued at about $59,000. Verdence Capital Advisors LLC purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $61,000. Finally, Ballentine Partners LLC acquired a new position in shares of Algonquin Power & Utilities during the fourth quarter worth about $63,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $4.57 on Monday. The company has a market cap of $3.50 billion, a P/E ratio of -3.54 and a beta of 0.69. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.79. The company’s 50-day moving average price is $4.50 and its 200-day moving average price is $5.02. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. On average, sell-side analysts forecast that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

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.