Algonquin Power & Utilities (NYSE:AQN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “

Other analysts also recently issued reports about the company. National Bank Financial upped their price objective on Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “sector perform” rating in a research note on Monday, April 22nd. Desjardins reaffirmed a “buy” rating and set a $13.00 price objective on shares of Algonquin Power & Utilities in a research note on Tuesday, April 23rd. TD Securities upped their price objective on Algonquin Power & Utilities from $12.00 to $12.50 and gave the company a “buy” rating in a research note on Monday, March 4th. Bank of America assumed coverage on Algonquin Power & Utilities in a research note on Wednesday, February 27th. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Canaccord Genuity downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Algonquin Power & Utilities has an average rating of “Hold” and a consensus price target of $12.13.

Shares of NYSE AQN opened at $11.29 on Wednesday. The stock has a market capitalization of $5.59 billion, a P/E ratio of 17.11, a PEG ratio of 1.65 and a beta of 0.74. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 0.95. Algonquin Power & Utilities has a 52-week low of $9.45 and a 52-week high of $11.60.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, February 28th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $414.08 million. Algonquin Power & Utilities had a return on equity of 9.35% and a net margin of 11.23%. As a group, research analysts forecast that Algonquin Power & Utilities will post 0.66 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Advisor Group Inc. raised its stake in shares of Algonquin Power & Utilities by 48.3% during the 4th quarter. Advisor Group Inc. now owns 8,906 shares of the utilities provider’s stock worth $89,000 after buying an additional 2,899 shares in the last quarter. Comerica Bank raised its stake in shares of Algonquin Power & Utilities by 9.6% during the 1st quarter. Comerica Bank now owns 10,978 shares of the utilities provider’s stock worth $126,000 after buying an additional 963 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $135,000. MML Investors Services LLC raised its stake in shares of Algonquin Power & Utilities by 11.7% during the 4th quarter. MML Investors Services LLC now owns 14,938 shares of the utilities provider’s stock worth $150,000 after buying an additional 1,566 shares in the last quarter. Finally, Corrado Advisors LLC purchased a new position in shares of Algonquin Power & Utilities during the 1st quarter worth approximately $165,000. 45.41% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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