Analysts Set Algonquin Power & Utilities Corp. (NYSE:AQN) Target Price at $6.67

Algonquin Power & Utilities Corp. (NYSE:AQN) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.6667.

Several research analysts have issued reports on AQN shares. Wall Street Zen upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Desjardins lifted their target price on Algonquin Power & Utilities from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Thursday, February 5th. Janney Montgomery Scott set a $7.00 target price on Algonquin Power & Utilities in a report on Monday, November 10th. Raymond James Financial increased their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. Finally, Natl Bk Canada upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several institutional investors and hedge funds have recently added to or reduced their stakes in AQN. Goldman Sachs Group Inc. lifted its holdings in shares of Algonquin Power & Utilities by 65.0% in the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after purchasing an additional 4,808,539 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Algonquin Power & Utilities by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 76,803 shares of the utilities provider’s stock worth $440,000 after acquiring an additional 8,103 shares in the last quarter. TD Asset Management Inc boosted its position in Algonquin Power & Utilities by 4.7% during the 2nd quarter. TD Asset Management Inc now owns 2,377,966 shares of the utilities provider’s stock worth $13,576,000 after acquiring an additional 106,708 shares during the period. John G Ullman & Associates Inc. grew its position in Algonquin Power & Utilities by 30.2% during the second quarter. John G Ullman & Associates Inc. now owns 56,100 shares of the utilities provider’s stock valued at $321,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Cidel Asset Management Inc. grew its stake in Algonquin Power & Utilities by 25.2% in the second quarter. Cidel Asset Management Inc. now owns 3,178,346 shares of the utilities provider’s stock valued at $18,145,000 after purchasing an additional 639,000 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN opened at $6.81 on Friday. Algonquin Power & Utilities has a 1 year low of $4.29 and a 1 year high of $6.84. The firm has a market cap of $5.23 billion, a P/E ratio of -170.08 and a beta of 0.76. The stock has a fifty day moving average price of $6.32 and a two-hundred day moving average price of $5.98. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.23.

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.