Algonquin Power & Utilities (NYSE:AQN) Stock Rating Upgraded by Wall Street Zen

Algonquin Power & Utilities (NYSE:AQN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

AQN has been the topic of a number of other reports. National Bank Financial upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Sunday, June 8th. TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, August 11th. Desjardins raised Algonquin Power & Utilities from a “hold” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $6.25 in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Algonquin Power & Utilities in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.36.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN opened at $5.79 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. The firm’s 50-day moving average price is $5.70 and its two-hundred day moving average price is $5.59. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.24. The stock has a market capitalization of $4.44 billion, a P/E ratio of -3.21 and a beta of 0.72.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Algonquin Power & Utilities had a positive return on equity of 4.76% and a negative net margin of 57.66%.The firm had revenue of $535.59 million during the quarter, compared to the consensus estimate of $535.64 million. During the same period in the prior year, the business earned $0.09 EPS. As a group, sell-side analysts forecast that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of institutional investors and hedge funds have recently modified their holdings of AQN. US Bancorp DE boosted its stake in shares of Algonquin Power & Utilities by 85.7% during the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Algonquin Power & Utilities during the first quarter worth $31,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Algonquin Power & Utilities during the first quarter valued at $51,000. Wedbush Securities Inc. acquired a new position in shares of Algonquin Power & Utilities in the 2nd quarter valued at $58,000. Finally, Sowell Financial Services LLC purchased a new position in Algonquin Power & Utilities in the 1st quarter worth about $59,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.