Algonquin Power & Utilities’ (AQN) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Algonquin Power & Utilities (NYSE:AQNGet Free Report)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $7.00 price objective on the utilities provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 15.70% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Algonquin Power & Utilities from $8.00 to $8.50 and gave the stock an “overweight” rating in a research report on Monday, May 13th. StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a research note on Friday, May 10th. CIBC raised their target price on Algonquin Power & Utilities from $7.50 to $7.70 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. National Bankshares upped their price target on Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 28th. Finally, Scotiabank lowered their price objective on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.38.

Read Our Latest Stock Report on AQN

Algonquin Power & Utilities Stock Up 0.8 %

Shares of NYSE AQN traded up $0.05 during mid-day trading on Wednesday, reaching $6.05. The company had a trading volume of 104,756 shares, compared to its average volume of 5,320,052. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.79 and a current ratio of 0.98. Algonquin Power & Utilities has a twelve month low of $4.90 and a twelve month high of $8.49. The stock’s 50 day moving average is $6.21 and its 200-day moving average is $6.13. The stock has a market capitalization of $4.64 billion, a PE ratio of -12.35 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last announced its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. The business had revenue of $737.10 million for the quarter, compared to analyst estimates of $813.38 million. During the same quarter last year, the company earned $0.17 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Algonquin Power & Utilities will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of Algonquin Power & Utilities

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Algonquin Power & Utilities by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 25,717,759 shares of the utilities provider’s stock worth $152,249,000 after purchasing an additional 413,104 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 754.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,552,484 shares of the utilities provider’s stock worth $98,292,000 after buying an additional 13,731,305 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter worth approximately $318,000. 13D Management LLC grew its position in Algonquin Power & Utilities by 76.3% during the 4th quarter. 13D Management LLC now owns 845,814 shares of the utilities provider’s stock worth $5,346,000 after acquiring an additional 366,088 shares during the last quarter. Finally, Troluce Capital Advisors LLC increased its holdings in Algonquin Power & Utilities by 55.8% during the 4th quarter. Troluce Capital Advisors LLC now owns 1,500,000 shares of the utilities provider’s stock valued at $9,480,000 after purchasing an additional 537,325 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

About Algonquin Power & Utilities

(Get Free Report)

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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Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

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