National Bank Financial Boosts Algonquin Power & Utilities (NYSE:AQN) Price Target to $14.00

Algonquin Power & Utilities (NYSE:AQN) had its target price raised by stock analysts at National Bank Financial from $13.50 to $14.00 in a report issued on Monday, Stock Target Advisor reports. National Bank Financial’s price target points to a potential upside of 1.01% from the stock’s previous close.

A number of other brokerages also recently commented on AQN. Royal Bank of Canada increased their price target on Algonquin Power & Utilities from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. ValuEngine downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. TD Securities initiated coverage on Algonquin Power & Utilities in a research report on Thursday, October 17th. They set a “buy” rating for the company. CIBC set a $14.30 price target on Algonquin Power & Utilities and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Industrial Alliance Securities downgraded Algonquin Power & Utilities to a “buy” rating and set a $19.00 price target for the company. in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $13.93.

Shares of Algonquin Power & Utilities stock opened at $13.86 on Monday. The company has a market cap of $7.21 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.68 and a beta of 0.58. Algonquin Power & Utilities has a 52 week low of $9.67 and a 52 week high of $14.45. The business has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.48. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 1.01.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The business had revenue of $343.58 million for the quarter, compared to analysts’ expectations of $372.40 million. Algonquin Power & Utilities had a net margin of 21.46% and a return on equity of 7.57%. As a group, research analysts anticipate that Algonquin Power & Utilities will post 0.62 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Winslow Evans & Crocker Inc. purchased a new stake in Algonquin Power & Utilities in the second quarter worth $28,000. Steward Partners Investment Advisory LLC purchased a new stake in Algonquin Power & Utilities in the second quarter worth $34,000. Ladenburg Thalmann Financial Services Inc. increased its position in Algonquin Power & Utilities by 1,049.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,957 shares during the last quarter. Csenge Advisory Group purchased a new stake in Algonquin Power & Utilities in the second quarter worth $146,000. Finally, Verity Asset Management Inc. increased its position in Algonquin Power & Utilities by 14.0% in the second quarter. Verity Asset Management Inc. now owns 12,670 shares of the utilities provider’s stock worth $153,000 after buying an additional 1,557 shares during the last quarter. 45.89% of the stock is owned by institutional investors and hedge funds.

About Algonquin Power & Utilities

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 and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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