Algonquin Power & Utilities (NYSE:AQN) Given New $6.50 Price Target at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Algonquin Power & Utilities from $6.25 to $6.50 and kept a "neutral" rating, implying roughly a 1.8% upside from the prior close.
• Analyst views are mixed — six Buy vs. seven Hold ratings yield an average rating of Hold and an average target of $6.68, with recent divergent actions such as Barclays initiating at $7 (overweight) while Desjardins and TD Cowen trimmed targets.
• Algonquin slightly beat quarterly EPS and revenue estimates, issued FY2026 guidance of 0.350–0.370 EPS and FY2027 guidance of 0.380–0.420 EPS, and institutional investors now own about 62% of the company after large purchases by firms including EdgePoint and Goldman Sachs.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) had its target price upped by analysts at Canadian Imperial Bank of Commerce from $6.25 to $6.50 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the utilities provider's stock. Canadian Imperial Bank of Commerce's price target would indicate a potential upside of 1.80% from the stock's previous close.

Other analysts have also issued research reports about the company. Desjardins cut their target price on Algonquin Power & Utilities from $7.25 to $7.00 and set a "buy" rating for the company in a research note on Monday, March 9th. Zacks Research lowered Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 9th. Barclays initiated coverage on Algonquin Power & Utilities in a research note on Wednesday, April 1st. They issued an "overweight" rating and a $7.00 target price for the company. Wall Street Zen lowered Algonquin Power & Utilities from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, TD Cowen cut their target price on Algonquin Power & Utilities from $6.50 to $6.00 and set a "hold" rating for the company in a research note on Monday, March 9th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Algonquin Power & Utilities currently has an average rating of "Hold" and an average target price of $6.68.

Algonquin Power & Utilities Price Performance

Shares of AQN traded up $0.01 during midday trading on Monday, hitting $6.39. 1,523,134 shares of the company traded hands, compared to its average volume of 4,854,349. The stock has a 50-day moving average of $6.47 and a 200-day moving average of $6.22. Algonquin Power & Utilities has a one year low of $5.16 and a one year high of $7.11. The firm has a market cap of $4.91 billion, a P/E ratio of 27.81 and a beta of 0.78. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.82.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The utilities provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $630.70 million for the quarter, compared to analysts' expectations of $625.77 million. Algonquin Power & Utilities had a net margin of 7.32% and a return on equity of 5.47%. Algonquin Power & Utilities's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. As a group, sell-side analysts predict that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of institutional investors have recently added to or reduced their stakes in AQN. EdgePoint Investment Group Inc. raised its holdings in Algonquin Power & Utilities by 32.6% in the fourth quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider's stock worth $502,563,000 after purchasing an additional 20,074,709 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Algonquin Power & Utilities in the 4th quarter worth about $74,263,000. Norges Bank bought a new stake in Algonquin Power & Utilities in the 4th quarter worth about $67,065,000. Goldman Sachs Group Inc. increased its holdings in Algonquin Power & Utilities by 65.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider's stock worth $62,738,000 after buying an additional 4,808,539 shares in the last quarter. Finally, Packer & Co Ltd bought a new stake in Algonquin Power & Utilities in the 3rd quarter worth about $24,235,000. Institutional investors own 62.28% of the company's stock.

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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