Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Recommendation of “Hold” by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $6.00.

A number of research analysts recently commented on the company. National Bankshares lowered their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Scotiabank lifted their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reduced their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th.

Hedge Funds Weigh In On Algonquin Power & Utilities

Large investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its holdings in shares of Algonquin Power & Utilities by 14.1% in the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock valued at $97,000 after acquiring an additional 2,201 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Algonquin Power & Utilities by 6.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 3,096 shares during the period. Raymond James Trust N.A. increased its position in shares of Algonquin Power & Utilities by 33.4% during the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 3,343 shares during the period. CIBC Asset Management Inc raised its stake in shares of Algonquin Power & Utilities by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider’s stock worth $4,141,000 after buying an additional 3,656 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Algonquin Power & Utilities by 40.5% during the fourth quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider’s stock valued at $78,000 after buying an additional 5,060 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Down 3.3 %

NYSE:AQN opened at $4.77 on Friday. The firm has a market capitalization of $3.66 billion, a PE ratio of -3.69 and a beta of 0.69. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.79. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average of $4.54 and a 200-day moving average of $4.88.

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.