Algonquin Power & Utilities (NYSE:AQN) Cut to Sell at StockNews.com

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Wednesday.

Other research analysts have also issued research reports about the stock. National Bankshares decreased their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. BMO Capital Markets reaffirmed a "market perform" rating and set a $6.00 target price (up from $5.00) on shares of Algonquin Power & Utilities in a research report on Monday, May 12th. Royal Bank of Canada boosted their target price on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Scotiabank lifted their price objective on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Finally, CIBC lowered their price objective on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Algonquin Power & Utilities currently has a consensus rating of "Hold" and an average target price of $6.03.

Algonquin Power & Utilities Stock Performance

AQN opened at $5.61 on Wednesday. The business's 50 day moving average is $5.25 and its 200-day moving average is $4.85. The stock has a market cap of $4.31 billion, a PE ratio of -4.35 and a beta of 0.67. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.75.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Algonquin Power & Utilities by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider's stock valued at $139,845,000 after buying an additional 544,198 shares during the last quarter. Manning & Napier Advisors LLC raised its position in Algonquin Power & Utilities by 25.0% in the fourth quarter. Manning & Napier Advisors LLC now owns 1,250,000 shares of the utilities provider's stock worth $5,562,000 after purchasing an additional 250,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Algonquin Power & Utilities by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,303,614 shares of the utilities provider's stock worth $10,219,000 after purchasing an additional 92,373 shares in the last quarter. Barclays PLC raised its position in Algonquin Power & Utilities by 33.2% in the third quarter. Barclays PLC now owns 829,508 shares of the utilities provider's stock worth $4,522,000 after purchasing an additional 206,603 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in Algonquin Power & Utilities by 8.7% in the fourth quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider's stock worth $22,458,000 after purchasing an additional 402,500 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Algonquin Power & Utilities Company Profile

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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