Algonquin Power & Utilities (NYSE:AQN) Stock Gets Price Target Cut from BMO Capital Markets

Key Points

• BMO Capital Markets cut its price target on Algonquin Power & Utilities from $6.50 to $6.00 while maintaining a “market perform” rating; the new target implies 5.54% upside from the stock’s current price.
• Analyst views are mixed: MarketBeat reports an average “Hold” rating and a $6.48 consensus target, with seven Buy, six Hold, and one Sell rating.
• Shares rose 3.0% to $5.68 on Monday. In its latest quarter, Algonquin reported EPS of $0.11, ahead of estimates, while revenue of $642.5 million fell short of expectations.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) had its price target cut by research analysts at BMO Capital Markets from $6.50 to $6.00 in a research note issued on Monday, BayStreet reports. The firm currently has a "market perform" rating on the utilities provider's stock. BMO Capital Markets's price target points to a potential upside of 5.54% from the stock's current price.

AQN has been the topic of a number of other research reports. Raymond James Financial reiterated an "outperform" rating and issued a $7.00 price objective (down from $7.25) on shares of Algonquin Power & Utilities in a report on Monday. Weiss Ratings cut Algonquin Power & Utilities from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Barclays decreased their target price on Algonquin Power & Utilities from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Thursday, October 1st. Canadian Imperial Bank of Commerce lowered their price target on Algonquin Power & Utilities from $6.00 to $5.75 and set a "neutral" rating for the company in a report on Wednesday, October 28th. Finally, National Bank Financial dropped their price target on shares of Algonquin Power & Utilities from $7.00 to $6.50 and set an "outperform" rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $6.48.

Algonquin Power & Utilities Stock Up 3.0%

Shares of AQN stock traded up $0.17 on Monday, reaching $5.68. 4,151,849 shares of the stock were exchanged, compared to its average volume of 4,452,304. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 27.07 and a beta of 0.73. The business's 50 day moving average price is $5.32 and its 200 day moving average price is $5.94. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.28. Algonquin Power & Utilities has a twelve month low of $4.91 and a twelve month high of $7.11.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The utilities provider reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $642.50 million for the quarter, compared to analysts' expectations of $647.20 million. Algonquin Power & Utilities had a return on equity of 5.57% and a net margin of 6.44%. 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 expect that Algonquin Power & Utilities will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several large investors have recently bought and sold shares of AQN. Phoenix Financial Ltd. purchased a new position in shares of Algonquin Power & Utilities during the third quarter worth about $106,000. Russell Investments Group Ltd. lifted its holdings in shares of Algonquin Power & Utilities by 17.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,522,032 shares of the utilities provider's stock valued at $27,809,000 after purchasing an additional 821,526 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of Algonquin Power & Utilities by 8.1% in the 3rd quarter. Private Management Group Inc. now owns 6,786,610 shares of the utilities provider's stock valued at $34,137,000 after purchasing an additional 510,797 shares during the last quarter. Ethic Inc. acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $59,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Algonquin Power & Utilities by 1.5% in the 3rd quarter. Pictet Asset Management Holding SA now owns 145,655 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 2,173 shares during the period. Institutional investors and hedge funds own 62.28% of the company's stock.

Algonquin Power & Utilities Company Profile

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