Algonquin Power & Utilities (NYSE:AQN) Upgraded to Sell at StockNews.com

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a research report issued to clients and investors on Friday.

A number of other analysts have also commented on AQN. Scotiabank decreased their price target on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a "sector perform" rating for the company in a research note on Monday, April 22nd. TD Securities raised their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "hold" rating in a research report on Monday, March 11th. Finally, Desjardins raised Algonquin Power & Utilities from a "sell" rating to a "hold" rating and increased their price objective for the stock from $4.75 to $5.75 in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of "Hold" and a consensus target price of $7.67.

Algonquin Power & Utilities Trading Down 2.7 %

Shares of AQN traded down $0.18 during trading hours on Friday, hitting $6.57. 9,610,649 shares of the stock were exchanged, compared to its average volume of 4,993,650. The business has a 50-day moving average of $6.17 and a 200-day moving average of $6.06. Algonquin Power & Utilities has a fifty-two week low of $4.90 and a fifty-two week high of $9.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.63 and a quick ratio of 0.50. The firm has a market capitalization of $4.53 billion, a P/E ratio of 218.83 and a beta of 0.64.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings data on Friday, March 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $666.90 million for the quarter, compared to analysts' expectations of $661.73 million. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The business's revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, research analysts expect that Algonquin Power & Utilities will post 0.48 EPS for the current year.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its position in shares of Algonquin Power & Utilities by 9.5% in the third quarter. Commonwealth Equity Services LLC now owns 79,789 shares of the utilities provider's stock worth $472,000 after buying an additional 6,931 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Algonquin Power & Utilities by 313.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 770,885 shares of the utilities provider's stock valued at $4,584,000 after acquiring an additional 584,358 shares in the last quarter. Advisor Partners II LLC grew its holdings in shares of Algonquin Power & Utilities by 14.9% during the third quarter. Advisor Partners II LLC now owns 15,486 shares of the utilities provider's stock worth $92,000 after purchasing an additional 2,009 shares in the last quarter. CIBC Asset Management Inc lifted its position in Algonquin Power & Utilities by 2.7% during the third quarter. CIBC Asset Management Inc now owns 659,519 shares of the utilities provider's stock valued at $3,916,000 after purchasing an additional 17,360 shares during the last quarter. Finally, Triumph Capital Management increased its holdings in shares of Algonquin Power & Utilities by 13.9% in the 3rd quarter. Triumph Capital Management now owns 18,931 shares of the utilities provider's stock worth $114,000 after buying an additional 2,314 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

About Algonquin Power & Utilities

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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