Algonquin Power & Utilities (AQN) Rating Reiterated by Canaccord Genuity

Algonquin Power & Utilities (NYSE:AQN)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity in a report released on Wednesday. They currently have a $11.00 price target on the utilities provider’s stock. Canaccord Genuity’s price target indicates a potential upside of 2.90% from the stock’s previous close.

Several other research analysts have also issued reports on AQN. National Bank Financial restated an “outperform overweight” rating on shares of Algonquin Power & Utilities in a research report on Monday, August 13th. Wells Fargo & Co decreased their price target on shares of Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating on the stock in a research report on Monday, August 20th. Finally, Zacks Investment Research lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Algonquin Power & Utilities has an average rating of “Hold” and a consensus price target of $11.40.

Algonquin Power & Utilities stock opened at $10.69 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. Algonquin Power & Utilities has a 1 year low of $9.45 and a 1 year high of $11.23.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $480.48 million. Algonquin Power & Utilities had a net margin of 11.48% and a return on equity of 9.59%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts predict that Algonquin Power & Utilities will post 0.66 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AQN. Comerica Bank purchased a new position in Algonquin Power & Utilities during the 3rd quarter worth approximately $101,000. Blair William & Co. IL purchased a new position in Algonquin Power & Utilities during the 3rd quarter worth approximately $136,000. Citadel Advisors LLC purchased a new position in Algonquin Power & Utilities during the 3rd quarter worth approximately $200,000. Paloma Partners Management Co purchased a new position in Algonquin Power & Utilities during the 2nd quarter worth approximately $226,000. Finally, Tower Research Capital LLC TRC grew its position in Algonquin Power & Utilities by 443.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 22,289 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 18,189 shares in the last quarter. Hedge funds and other institutional investors own 43.72% of the company’s stock.

Algonquin Power & Utilities Company Profile

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. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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