Algonquin Power & Utilities (NYSE:AQN - Get Free Report) had its target price boosted by investment analysts at Desjardins from $4.75 to $6.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a "hold" rating on the utilities provider's stock. Desjardins' price objective suggests a potential upside of 2.65% from the stock's current price.
Other analysts have also issued research reports about the stock. Scotiabank lifted their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a research report on Wednesday. CIBC lifted their target price 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. Raymond James lifted their target price 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. National Bank Financial lowered shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 target price on the stock. in a research report on Wednesday. Finally, Wall Street Zen lowered shares of Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.31.
Check Out Our Latest Report on Algonquin Power & Utilities
Algonquin Power & Utilities Price Performance
Shares of NYSE AQN traded down $0.08 during trading on Wednesday, hitting $5.85. The company had a trading volume of 14,983,607 shares, compared to its average volume of 8,544,605. The stock has a fifty day simple moving average of $5.36 and a two-hundred day simple moving average of $4.92. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.36. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -4.53 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its earnings results 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. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business had revenue of $692.40 million for the quarter, compared to analyst estimates of $699.08 million. During the same quarter last year, the business earned $0.14 earnings per share. On average, research analysts expect that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.
Hedge Funds Weigh In On Algonquin Power & Utilities
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Starboard Value LP raised its stake in Algonquin Power & Utilities by 5.1% during the fourth quarter. Starboard Value LP now owns 65,316,000 shares of the utilities provider's stock worth $290,656,000 after purchasing an additional 3,175,000 shares during the period. EdgePoint Investment Group Inc. raised its stake in Algonquin Power & Utilities by 84.9% during the first quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider's stock worth $216,868,000 after purchasing an additional 19,392,805 shares during the period. FIL Ltd raised its stake in Algonquin Power & Utilities by 85.6% during the fourth quarter. FIL Ltd now owns 40,886,793 shares of the utilities provider's stock worth $181,473,000 after purchasing an additional 18,857,515 shares during the period. Vanguard Group Inc. raised its stake in Algonquin Power & Utilities by 0.6% during the first quarter. Vanguard Group Inc. now owns 31,715,401 shares of the utilities provider's stock worth $162,859,000 after purchasing an additional 204,473 shares during the period. Finally, Bank of Montreal Can raised its stake in Algonquin Power & Utilities by 0.6% during the fourth quarter. Bank of Montreal Can now owns 21,000,723 shares of the utilities provider's stock worth $93,090,000 after purchasing an additional 117,757 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.
Algonquin Power & Utilities Company Profile
(
Get Free Report)
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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