Algonquin Power & Utilities (NYSE:AQN) Given "Sell (D)" Rating at Weiss Ratings

Key Points

• Algonquin Power & Utilities has been given a "Sell (D)" rating by Weiss Ratings, while Desjardins upgraded it to a "Buy" with a price target increase from $6.00 to $6.25.
• The company’s stock is currently trading at $5.82, with a market capitalization of $4.47 billion, despite having a negative net margin of 57.66%.
• Approximately 62.28% of Algonquin Power & Utilities' stock is held by hedge funds and institutional investors, indicating significant market interest.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report)'s stock had its "sell (d)" rating restated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on the company. Desjardins upgraded Algonquin Power & Utilities from a "hold" rating to a "buy" rating and increased their price target for the stock from $6.00 to $6.25 in a report on Wednesday, October 1st. Wall Street Zen raised Algonquin Power & Utilities from a "sell" rating to a "hold" rating in a report on Saturday. Finally, TD Securities raised Algonquin Power & Utilities to a "hold" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of "Hold" and an average target price of $6.36.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN traded up $0.03 during midday trading on Wednesday, hitting $5.82. 3,017,855 shares of the company's stock were exchanged, compared to its average volume of 9,405,525. The firm has a market capitalization of $4.47 billion, a PE ratio of -3.23 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. The company's 50 day moving average price is $5.70 and its 200 day moving average price is $5.59. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.24.

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

Hedge Funds Weigh In On Algonquin Power & Utilities

Several institutional investors and hedge funds have recently bought and sold shares of AQN. EdgePoint Investment Group Inc. lifted its position 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 valued at $216,868,000 after purchasing an additional 19,392,805 shares during the period. Southpoint Capital Advisors LP purchased a new position in Algonquin Power & Utilities during the 1st quarter worth $51,400,000. Norges Bank acquired a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth $51,370,000. Ariel Investments LLC acquired a new stake in shares of Algonquin Power & Utilities in the first quarter valued at about $35,735,000. Finally, Goldman Sachs Group Inc. raised its position in Algonquin Power & Utilities by 65.0% during the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider's stock worth $62,738,000 after acquiring an additional 4,808,539 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

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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