Algonquin Power & Utilities (NYSE:AQN) Upgraded at Natl Bk Canada

Algonquin Power & Utilities (NYSE:AQN) was upgraded by analysts at Natl Bk Canada from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on AQN. National Bankshares set a $7.50 price target on Algonquin Power & Utilities in a report on Wednesday. Raymond James Financial upped their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a research note on Friday, October 24th. Scotiabank raised shares of Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target for the company in a report on Tuesday, December 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a report on Monday, December 29th. Finally, Desjardins increased their target price on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.70.

Algonquin Power & Utilities Stock Up 3.2%

Algonquin Power & Utilities stock opened at $6.41 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.23 and a quick ratio of 0.98. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.62. The firm has a fifty day moving average price of $6.02 and a two-hundred day moving average price of $5.86. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of -160.23 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Algonquin Power & Utilities had a positive return on equity of 5.14% and a negative net margin of 1.11%.The company had revenue of $600.80 million for the quarter, compared to the consensus estimate of $596.67 million. During the same period last year, the business posted $0.08 earnings per share. As a group, analysts forecast that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Algonquin Power & Utilities during the third quarter valued at approximately $29,000. Fiera Capital Corp bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $55,000. Vise Technologies Inc. bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $56,000. Wedbush Securities Inc. acquired a new stake in Algonquin Power & Utilities in the 2nd quarter valued at $58,000. Finally, Davis Rea LTD. bought a new stake in Algonquin Power & Utilities in the third quarter valued at $67,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.