BMO Capital Markets Downgrades Algonquin Power & Utilities (TSE:AQN) to Hold

Algonquin Power & Utilities (TSE:AQN - Get Free Report) was downgraded by equities researchers at BMO Capital Markets from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, TD Securities boosted their price objective on Algonquin Power & Utilities from C$5.00 to C$6.00 and gave the stock a "hold" rating in a research note on Monday. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Algonquin Power & Utilities presently has a consensus rating of "Hold" and an average target price of C$6.00.

Algonquin Power & Utilities Price Performance

TSE:AQN opened at C$8.02 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 154.35. The business's 50-day simple moving average is C$7.26 and its two-hundred day simple moving average is C$6.83. The stock has a market cap of C$4.35 billion, a PE ratio of -4.02, a P/E/G ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a 52 week low of C$6.03 and a 52 week high of C$9.19.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, March 7th. The company reported C$0.06 EPS for the quarter, missing analysts' consensus estimates of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. During the same period in the prior year, the firm earned $0.16 EPS. As a group, analysts forecast that Algonquin Power & Utilities will post 0.4650555 EPS for the current fiscal year.

Insider Activity

In other news, Director Randy David Laney purchased 9,795 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of C$7.02 per share, for a total transaction of C$68,803.21. Insiders own 0.06% of the company's stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.

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