Algonquin Power & Utilities (NYSE:AQN) Stock Price Expected to Rise, Desjardins Analyst Says

Algonquin Power & Utilities (NYSE:AQN) had its target price increased by stock analysts at Desjardins from $7.00 to $7.25 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the utilities provider’s stock. Desjardins’ price objective would indicate a potential upside of 11.11% from the stock’s current price.

AQN has been the topic of a number of other reports. Scotiabank upgraded shares of Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 target price on the stock in a research note on Tuesday, December 16th. Zacks Research raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. National Bank Financial upgraded Algonquin Power & Utilities from a “sector perform” rating to an “outperform” rating and set a $7.50 price target on the stock in a research note on Wednesday, January 7th. Janney Montgomery Scott set a $7.00 price objective on Algonquin Power & Utilities in a research report on Monday, November 10th. Finally, Raymond James Financial raised their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.75.

Algonquin Power & Utilities Trading Down 0.2%

NYSE:AQN traded down $0.02 on Thursday, reaching $6.53. The company’s stock had a trading volume of 4,323,177 shares, compared to its average volume of 5,156,424. The stock has a 50 day moving average price of $6.23 and a 200 day moving average price of $5.95. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.26. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of -163.08 and a beta of 0.76. Algonquin Power & Utilities has a 12-month low of $4.29 and a 12-month high of $6.68.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. The business had revenue of $600.80 million during the quarter, compared to analysts’ expectations of $596.67 million. During the same period last year, the business earned $0.08 earnings per share. On average, equities analysts anticipate that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Institutional Trading of Algonquin Power & Utilities

A number of institutional investors have recently bought and sold shares of AQN. Quarry LP purchased a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth about $29,000. Fiera Capital Corp purchased a new stake in shares of Algonquin Power & Utilities in the third quarter valued at $55,000. Vise Technologies Inc. acquired a new stake in shares of Algonquin Power & Utilities during the third quarter valued at $56,000. Wedbush Securities Inc. purchased a new stake in Algonquin Power & Utilities during the 2nd quarter worth about $58,000. Finally, Davis Rea LTD. acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at about $67,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.