Algonquin Power & Utilities (NYSE:AQN) Downgraded by Wall Street Zen to "Sell"

Key Points

• Algonquin Power & Utilities has been downgraded from a "hold" rating to a "sell" by Wall Street Zen, reflecting increasing concerns among analysts about the company's outlook.
• Despite the downgrade, other analysts like BMO Capital Markets and CIBC have maintained "market perform" and "neutral" ratings with price targets ranging from $6.00 to $6.25, indicating mixed sentiments on the stock's future performance.
• The company recorded a negative net margin of 57.66% in its latest earnings report, and analysts predict it will post an earnings per share (EPS) of 0.38 for the current year.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other research analysts also recently issued reports on the stock. BMO Capital Markets reissued a "market perform" rating and set a $6.00 price objective (up from $5.00) on shares of Algonquin Power & Utilities in a research report on Monday, May 12th. CIBC boosted their price objective on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Raymond James Financial boosted their price objective on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a "market perform" rating in a research report on Wednesday, June 4th. National Bank Financial raised shares of Algonquin Power & Utilities to a "hold" rating in a research report on Sunday, June 8th. Finally, Desjardins boosted their price objective on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.31.

Algonquin Power & Utilities Trading Down 0.5%

NYSE:AQN opened at $5.84 on Friday. The company has a fifty day moving average of $5.84 and a 200 day moving average of $5.37. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.24. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $4.49 billion, a P/E ratio of -3.24 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. The business had revenue of $535.59 million for the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same period in the previous year, the firm earned $0.09 EPS. On average, research analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Institutional Trading of Algonquin Power & Utilities

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Algonquin Power & Utilities during the 1st quarter valued at about $288,000. Raymond James Financial Inc. purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at about $990,000. Sowell Financial Services LLC purchased a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at about $59,000. Dimensional Fund Advisors LP grew its stake in shares of Algonquin Power & Utilities by 12.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,782,827 shares of the utilities provider's stock worth $25,734,000 after acquiring an additional 654,006 shares during the period. Finally, Corvex Management LP raised its holdings in shares of Algonquin Power & Utilities by 10.0% during the fourth quarter. Corvex Management LP now owns 3,345,455 shares of the utilities provider's stock valued at $14,887,000 after purchasing an additional 303,829 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

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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