Algonquin Power & Utilities Corp. (AQN) Given Average Recommendation of “Buy” by Analysts

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned an average broker rating score of 1.50 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company.

Brokerages have set a 1-year consensus price target of $11.16 for the company and are expecting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also given Algonquin Power & Utilities Corp. an industry rank of 156 out of 265 based on the ratings given to its competitors.

AQN has been the topic of several analyst reports. Zacks Investment Research downgraded Algonquin Power & Utilities Corp. from a “hold” rating to a “sell” rating in a research report on Friday, March 24th. JPMorgan Chase & Co. initiated coverage on Algonquin Power & Utilities Corp. in a report on Monday, February 27th. They set a “neutral” rating for the company. Finally, National Bank Financial restated an “outperform market weight” rating on shares of Algonquin Power & Utilities Corp. in a report on Sunday, January 22nd.

Algonquin Power & Utilities Corp. (NYSE:AQN) traded down 0.42% on Friday, hitting $9.56. 33,190 shares of the company traded hands. The firm’s 50 day moving average price is $9.47 and its 200 day moving average price is $8.82. Algonquin Power & Utilities Corp. has a 1-year low of $7.75 and a 1-year high of $10.18. The firm has a market capitalization of $2.62 billion, a PE ratio of 42.87 and a beta of 0.82.

A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in Algonquin Power & Utilities Corp. by 66.2% in the first quarter. Bank of Montreal Can now owns 14,216,471 shares of the utilities provider’s stock worth $136,194,000 after buying an additional 5,661,282 shares during the last quarter. Barometer Capital Management Inc. boosted its position in Algonquin Power & Utilities Corp. by 109.5% in the first quarter. Barometer Capital Management Inc. now owns 3,185,783 shares of the utilities provider’s stock worth $30,520,000 after buying an additional 1,664,783 shares during the last quarter. LGT Capital Partners LTD. boosted its position in Algonquin Power & Utilities Corp. by 15.9% in the first quarter. LGT Capital Partners LTD. now owns 800,000 shares of the utilities provider’s stock worth $7,620,000 after buying an additional 110,000 shares during the last quarter. Finally, Hexavest Inc. boosted its position in Algonquin Power & Utilities Corp. by 4.9% in the first quarter. Hexavest Inc. now owns 692,728 shares of the utilities provider’s stock worth $6,597,000 after buying an additional 32,198 shares during the last quarter. Institutional investors own 7.55% of the company’s stock.

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