Algonquin Power & Utilities Corp. (NYSE:AQN) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts moderately favor Algonquin Power & Utilities: Six analysts rate AQN a buy and six rate it a hold, producing a “Moderate Buy” consensus with an average 12-month price target of $6.81 versus its $5.75 share price.
• AQN recently reported quarterly EPS of $0.13, exceeding the $0.11 consensus estimate, while revenue matched expectations at $713.69 million. Analysts expect full-year EPS of approximately $0.36.
• Institutional investors and hedge funds own 62.28% of the company, and several firms recently initiated or increased positions in the utility and renewable-energy provider.

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.8056.

Several research firms have weighed in on AQN. Canadian Imperial Bank of Commerce boosted their target price on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Algonquin Power & Utilities in a research note on Friday, July 17th. Wells Fargo & Company started coverage on shares of Algonquin Power & Utilities in a report on Tuesday, May 12th. They set an "equal weight" rating and a $7.00 price objective on the stock. Finally, National Bank Financial cut their target price on Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating on the stock in a research report on Friday, July 3rd.

Algonquin Power & Utilities Stock Down 0.3%

Shares of AQN stock opened at $5.75 on Friday. The stock's fifty day moving average price is $5.85 and its 200 day moving average price is $6.18. Algonquin Power & Utilities has a 1-year low of $5.32 and a 1-year high of $7.11. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 26.16 and a beta of 0.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.87.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $713.69 million during the quarter, compared to analysts' expectations of $713.69 million. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.During the same period last year, the business posted $0.14 earnings per share. On average, research analysts expect that Algonquin Power & Utilities will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Algonquin Power & Utilities

Several institutional investors and hedge funds have recently bought and sold shares of AQN. Quarry LP acquired a new stake in Algonquin Power & Utilities during the 3rd quarter worth about $29,000. Group One Trading LLC raised its position in Algonquin Power & Utilities by 63.3% during the fourth quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 2,900 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Algonquin Power & Utilities in the fourth quarter valued at approximately $47,000. Tudor Investment Corp ET AL acquired a new position in Algonquin Power & Utilities in the fourth quarter valued at approximately $62,000. Finally, Vise Technologies Inc. purchased a new stake in Algonquin Power & Utilities in the 3rd quarter worth approximately $56,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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