Algonquin Power & Utilities (NYSE:AQN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) had its price target raised by investment analysts at Royal Bank of Canada from $6.00 to $6.50 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a "sector perform" rating on the utilities provider's stock. Royal Bank of Canada's price target would suggest a potential upside of 11.21% from the stock's current price.

Several other research firms have also weighed in on AQN. National Bankshares reduced their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Wall Street Zen lowered Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Scotiabank increased their price objective on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating and issued a $6.00 price objective (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Finally, National Bank Financial downgraded shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price objective for the company. in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat.com, Algonquin Power & Utilities currently has an average rating of "Hold" and a consensus price target of $6.31.

Algonquin Power & Utilities Price Performance

Shares of NYSE AQN traded down $0.08 during mid-day trading on Wednesday, reaching $5.85. The company had a trading volume of 14,983,607 shares, compared to its average volume of 8,544,605. The business's 50-day simple moving average is $5.35 and its 200 day simple moving average is $4.91. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -4.53 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 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 during the quarter, compared to the consensus estimate of $699.08 million. During the same period in the previous year, the business earned $0.14 earnings per share. On average, research analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Institutional Trading of Algonquin Power & Utilities

Several institutional investors have recently bought and sold shares of AQN. Goldman Sachs Group Inc. boosted its holdings in shares of Algonquin Power & Utilities by 65.0% in the first 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 during the last quarter. EdgePoint Investment Group Inc. increased its position in Algonquin Power & Utilities by 84.9% in 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 last quarter. Corvex Management LP lifted its holdings in shares of Algonquin Power & Utilities by 69.9% in the 1st quarter. Corvex Management LP now owns 5,683,855 shares of the utilities provider's stock valued at $29,215,000 after acquiring an additional 2,338,400 shares during the last quarter. Ariel Investments LLC purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter worth approximately $35,735,000. Finally, Southpoint Capital Advisors LP purchased a new position in Algonquin Power & Utilities during the first quarter worth $51,400,000. 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.