National Bankshares Cuts Algonquin Power & Utilities (NYSE:AQN) Price Target to $6.25

Algonquin Power & Utilities (NYSE:AQN) had its target price reduced by analysts at National Bankshares from $6.75 to $6.25 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ price target indicates a potential upside of 36.31% from the stock’s current price.

Other research analysts have also issued reports about the company. Scotiabank dropped their target price on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. CIBC lowered their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.03.

Algonquin Power & Utilities Stock Up 0.3 %

Algonquin Power & Utilities stock traded up $0.02 during mid-day trading on Tuesday, hitting $4.59. The company’s stock had a trading volume of 3,109,315 shares, compared to its average volume of 8,052,614. The firm’s 50 day moving average is $4.48 and its 200 day moving average is $4.98. The company has a market cap of $3.52 billion, a PE ratio of -3.55 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.79.

Institutional Trading of Algonquin Power & Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Algonquin Power & Utilities by 45.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider’s stock worth $70,806,000 after purchasing an additional 4,054,711 shares during the period. Private Management Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 161.2% in the fourth quarter. Private Management Group Inc. now owns 5,924,983 shares of the utilities provider’s stock worth $26,366,000 after purchasing an additional 3,656,840 shares during the period. Yaupon Capital Management LP bought a new position in shares of Algonquin Power & Utilities in the third quarter worth $11,997,000. Foundry Partners LLC bought a new position in shares of Algonquin Power & Utilities in the third quarter worth $7,173,000. Finally, Bank of Montreal Can increased its holdings in shares of Algonquin Power & Utilities by 6.0% in the third quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider’s stock worth $115,175,000 after purchasing an additional 1,190,236 shares during the period. 62.28% of the stock is owned by institutional investors.

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.