Algonquin Power & Utilities (NYSE:AQN) had its target price cut by stock analysts at Morgan Stanley from $16.50 to $16.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 4.78% from the stock’s current price.
Several other brokerages have also commented on AQN. TheStreet lowered Algonquin Power & Utilities from a “b-” rating to a “c” rating in a research report on Friday, May 7th. Royal Bank of Canada reduced their price objective on Algonquin Power & Utilities from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, March 8th. Zacks Investment Research lowered Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Tuesday, March 30th. National Bank Financial reduced their price target on Algonquin Power & Utilities from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, March 8th. Finally, Raymond James restated an “outperform” rating and set a $19.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, May 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.72.
Shares of NYSE AQN opened at $15.27 on Tuesday. The firm has a market capitalization of $9.14 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.86 and a beta of 0.39. The company has a quick ratio of 1.02, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The stock’s 50-day simple moving average is $16.00 and its two-hundred day simple moving average is $16.22. Algonquin Power & Utilities has a twelve month low of $12.45 and a twelve month high of $17.86.
Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, May 6th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $634.50 million for the quarter, compared to the consensus estimate of $571.53 million. Algonquin Power & Utilities had a net margin of 27.73% and a return on equity of 7.87%. Algonquin Power & Utilities’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. As a group, research analysts anticipate that Algonquin Power & Utilities will post 0.66 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AQN. AGF Investments LLC purchased a new stake in Algonquin Power & Utilities in the 4th quarter worth approximately $25,000. JustInvest LLC lifted its stake in shares of Algonquin Power & Utilities by 13.1% in the 4th quarter. JustInvest LLC now owns 22,323 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 2,585 shares during the period. Fieldpoint Private Securities LLC purchased a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $35,000. Assetmark Inc. purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at approximately $37,000. Finally, Tompkins Financial Corp purchased a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 45.90% 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, the United States, Chile, and Bermuda. It generates and sells electrical energy through non-regulated renewable and clean energy power generation facilities.
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