Algonquin Power & Utilities (NYSE:AQN) Now Covered by Huntington

Key Points

• Huntington initiated coverage of Algonquin Power & Utilities with an “outperform” rating and a $7.00 price target, implying 33.21% upside from the prior close.
• Analyst sentiment is generally positive: seven analysts rate the stock a Buy and six rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $6.75.
• AQN shares traded at $5.25, near their 52-week low, while the company’s latest quarterly earnings of $0.04 per share slightly missed estimates. Institutional investors own 62.28% of the stock.

Equities researchers at Huntington assumed coverage on shares of Algonquin Power & Utilities (NYSE:AQN - Get Free Report) in a research report issued on Monday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $7.00 price target on the utilities provider's stock. Huntington's price target indicates a potential upside of 33.21% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the company. National Bank Financial set a $7.00 price target on Algonquin Power & Utilities and gave the stock an "outperform" rating in a report on Tuesday, September 1st. Weiss Ratings cut Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Finally, TD set a $6.00 target price on Algonquin Power & Utilities and gave the stock a "hold" rating in a research report on Monday, August 31st. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $6.75.

Algonquin Power & Utilities Price Performance

AQN stock traded down $0.06 during trading on Monday, reaching $5.25. 569,249 shares of the company were exchanged, compared to its average volume of 4,438,330. The company has a market cap of $4.05 billion, a P/E ratio of 27.66 and a beta of 0.70. Algonquin Power & Utilities has a 52-week low of $5.27 and a 52-week high of $7.11. The stock's 50 day moving average price is $5.76 and its 200 day moving average price is $6.02. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.69 and a current ratio of 0.88.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its earnings results on Friday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%.The company had revenue of $582.99 million for the quarter, compared to analyst estimates of $582.99 million. During the same quarter in the previous year, the company posted $0.04 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, analysts predict that Algonquin Power & Utilities will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AQN. EdgePoint Investment Group Inc. grew its holdings in shares of Algonquin Power & Utilities by 32.6% during the fourth quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider's stock worth $502,563,000 after buying an additional 20,074,709 shares in the last quarter. Norges Bank purchased a new position in shares of Algonquin Power & Utilities during the fourth quarter valued at approximately $67,065,000. Bank of Nova Scotia acquired a new stake in Algonquin Power & Utilities during the second quarter worth approximately $46,703,000. Legal & General Group Plc acquired a new stake in Algonquin Power & Utilities during the second quarter worth approximately $37,553,000. Finally, Goldman Sachs Group Inc. grew its stake 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 acquiring an additional 4,808,539 shares during the period. Institutional investors and hedge funds own 62.28% of the company's stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is a North American utility and renewable energy company headquartered in Oakville, Ontario. Through its Liberty operating businesses, the company has provided regulated electricity, natural gas, water and wastewater services to residential, commercial and industrial customers.

Algonquin has historically operated regulated utility systems in the United States and Canada, with activities including electricity distribution and transmission, natural gas distribution, and water and wastewater utilities.

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