Algonquin Power & Utilities (TSE:AQN) Given a C$10.00 Price Target at Barclays

Key Points

• Barclays set a C$10.00 price target and an overweight rating on Algonquin, implying about a 14.94% upside from the company's current price.
• Several other firms have upgraded AQN (including Scotiabank, Raymond James and National Bank), leaving a MarketBeat consensus rating of Buy with a consensus price target of C$7.58.
• Shares recently traded at C$8.70 with a market cap of C$6.69 billion, a high PE of 39.55 and significant leverage (debt-to-equity ~140.99), highlighting valuation and debt considerations for investors.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) received a C$10.00 price target from investment analysts at Barclays in a report issued on Wednesday,BayStreet.CA reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 14.94% from the company's current price.

Several other research analysts have also issued reports on AQN. Scotiabank raised Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 16th. Raymond James Financial raised shares of Algonquin Power & Utilities from a "hold" rating to a "moderate buy" rating in a research report on Monday, March 9th. National Bank Financial raised Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 6th. Finally, TD Securities reduced their price objective on Algonquin Power & Utilities from C$6.50 to C$6.00 and set a "hold" rating for the company in a research note on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$7.58.

Algonquin Power & Utilities Stock Up 2.1%

Shares of TSE:AQN traded up C$0.18 on Wednesday, reaching C$8.70. The company had a trading volume of 1,026,285 shares, compared to its average volume of 2,306,339. Algonquin Power & Utilities has a 52-week low of C$6.31 and a 52-week high of C$9.69. The firm's 50 day simple moving average is C$8.94 and its 200-day simple moving average is C$8.50. The firm has a market capitalization of C$6.69 billion, a PE ratio of 39.55, a PEG ratio of 1.07 and a beta of 1.20. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 140.99.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, March 6th. The company reported C$0.08 EPS for the quarter. Algonquin Power & Utilities had a net margin of 7.42% and a return on equity of 3.88%. The business had revenue of C$829.86 million during the quarter. As a group, analysts expect that Algonquin Power & Utilities will post 0.4650555 earnings per share for the current fiscal year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada.

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