Algonquin Power & Utilities (NYSE:AQN) Now Covered by Huntington

Equities researchers at Huntington initiated coverage on shares of Algonquin Power & Utilities (NYSE:AQN) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set an “outperform” rating and a $7.00 price target on the utilities provider’s stock. Huntington’s price objective indicates a potential upside of 33.21% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. National Bank Financial set a $7.00 target price on Algonquin Power & Utilities and gave the stock an “outperform” rating in a report on Tuesday, September 1st. Finally, TD set a $6.00 target price on shares of Algonquin Power & Utilities and gave the stock a “hold” rating in a research report on Monday, August 31st. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities has a consensus rating of “Moderate Buy” and an average target price of $6.75.

Algonquin Power & Utilities Trading Down 1.0%

AQN traded down $0.06 during midday trading on Monday, hitting $5.25. The company’s stock had a trading volume of 569,249 shares, compared to its average volume of 4,438,330. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.05 billion, a P/E ratio of 27.66 and a beta of 0.70. The firm has a 50-day moving average price of $5.76 and a two-hundred day moving average price of $6.02. Algonquin Power & Utilities has a 52-week low of $5.27 and a 52-week high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%.The company had revenue of $582.99 million for the quarter, compared to analysts’ expectations of $582.99 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. On average, research analysts anticipate that Algonquin Power & Utilities will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its holdings in Algonquin Power & Utilities by 14.8% in the 2nd quarter. Squarepoint Ops LLC now owns 83,196 shares of the utilities provider’s stock worth $488,000 after acquiring an additional 10,721 shares during the period. Nykredit A S purchased a new stake in shares of Algonquin Power & Utilities during the second quarter valued at approximately $78,000. Amundi raised its stake in shares of Algonquin Power & Utilities by 12.5% during the second quarter. Amundi now owns 174,789 shares of the utilities provider’s stock valued at $1,024,000 after purchasing an additional 19,454 shares during the period. HighTower Advisors LLC lifted its position in shares of Algonquin Power & Utilities by 31.8% during the second quarter. HighTower Advisors LLC now owns 32,052 shares of the utilities provider’s stock worth $188,000 after purchasing an additional 7,729 shares in the last quarter. Finally, Greenland Capital Management LP lifted its position in shares of Algonquin Power & Utilities by 5.0% during the second quarter. Greenland Capital Management LP now owns 975,010 shares of the utilities provider’s stock worth $5,732,000 after purchasing an additional 46,020 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is a North American utility and renewable energy company headquartered in Oakville, Ontario. Through its Liberty operating businesses, the company has provided regulated electricity, natural gas, water and wastewater services to residential, commercial and industrial customers.

Algonquin has historically operated regulated utility systems in the United States and Canada, with activities including electricity distribution and transmission, natural gas distribution, and water and wastewater utilities.