Algonquin Power & Utilities (NYSE:AQN) Price Target Raised to $14.50 at National Bank Financial

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Algonquin Power & Utilities (NYSE:AQN) had its price objective upped by equities research analysts at National Bank Financial from $14.00 to $14.50 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the utilities provider’s stock. National Bank Financial’s target price would suggest a potential upside of 1.19% from the company’s current price.

A number of other equities analysts also recently issued reports on AQN. TD Securities increased their price target on Algonquin Power & Utilities from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on shares of Algonquin Power & Utilities from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Howard Weil downgraded shares of Algonquin Power & Utilities from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday. Finally, ValuEngine lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $14.23.

AQN stock traded up $0.13 during midday trading on Wednesday, reaching $14.33. The company’s stock had a trading volume of 115,828 shares, compared to its average volume of 957,260. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.59 and a current ratio of 0.73. The stock has a fifty day simple moving average of $13.73 and a two-hundred day simple moving average of $12.96. Algonquin Power & Utilities has a 1 year low of $9.67 and a 1 year high of $14.45. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.64 and a beta of 0.57.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Algonquin Power & Utilities had a net margin of 25.08% and a return on equity of 7.92%. The firm had revenue of $365.60 million during the quarter, compared to analyst estimates of $405.41 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was down .2% on a year-over-year basis. As a group, analysts forecast that Algonquin Power & Utilities will post 0.61 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in AQN. Steward Partners Investment Advisory LLC acquired a new stake in Algonquin Power & Utilities in the 2nd quarter worth approximately $34,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Algonquin Power & Utilities by 1,049.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,957 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Algonquin Power & Utilities during the second quarter worth $146,000. Verity Asset Management Inc. lifted its stake in shares of Algonquin Power & Utilities by 14.0% during the second quarter. Verity Asset Management Inc. now owns 12,670 shares of the utilities provider’s stock worth $153,000 after buying an additional 1,557 shares during the period. Finally, Comerica Bank lifted its stake in shares of Algonquin Power & Utilities by 11.6% during the second quarter. Comerica Bank now owns 12,256 shares of the utilities provider’s stock worth $154,000 after buying an additional 1,278 shares during the period. Institutional investors own 43.89% of the company’s stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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

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