Algonquin Power & Utilities' (AQN) Market Perform Rating Reaffirmed at BMO Capital Markets

Algonquin Power & Utilities (NYSE:AQN - Get Free Report)'s stock had its "market perform" rating reissued by analysts at BMO Capital Markets in a research note issued on Monday,Benzinga reports. They presently have a $6.00 price target on the utilities provider's stock, up from their prior price target of $5.00. BMO Capital Markets' price target suggests a potential upside of 3.90% from the stock's previous close.

Several other brokerages also recently weighed in on AQN. CIBC cut their price target on Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Scotiabank raised their price target on Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a "sector perform" rating in a report on Monday. National Bankshares dropped their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada boosted their price objective on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.03.

Algonquin Power & Utilities Trading Down 3.6%

NYSE:AQN traded down $0.22 on Monday, reaching $5.78. The company's stock had a trading volume of 10,045,094 shares, compared to its average volume of 11,126,397. Algonquin Power & Utilities has a 12-month low of $4.19 and a 12-month high of $6.75. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -4.48 and a beta of 0.67. The stock has a 50 day moving average price of $5.14 and a 200 day moving average price of $4.82.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $692.40 million for the quarter, compared to the consensus estimate of $699.08 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. During the same quarter in the previous year, the business earned $0.14 EPS. On average, equities analysts anticipate that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Barclays PLC grew its stake in Algonquin Power & Utilities by 33.2% in the 3rd quarter. Barclays PLC now owns 829,508 shares of the utilities provider's stock valued at $4,522,000 after buying an additional 206,603 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Algonquin Power & Utilities by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 644,652 shares of the utilities provider's stock valued at $3,264,000 after purchasing an additional 60,946 shares during the period. Tallon Kerry Patrick bought a new stake in Algonquin Power & Utilities in the 4th quarter valued at about $141,000. Wedge Capital Management L L P NC lifted its stake in Algonquin Power & Utilities by 4.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 686,612 shares of the utilities provider's stock valued at $3,055,000 after purchasing an additional 28,548 shares during the last quarter. Finally, Krilogy Financial LLC lifted its stake in Algonquin Power & Utilities by 116.7% in the 4th quarter. Krilogy Financial LLC now owns 1,621,045 shares of the utilities provider's stock valued at $7,214,000 after purchasing an additional 873,045 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

About Algonquin Power & Utilities

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.

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