Algonquin Power & Utilities (TSE:AQN) Stock Rating Lowered by BMO Capital Markets

Algonquin Power & Utilities (TSE:AQN) was downgraded by investment analysts at BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, TD Securities upped their price objective on Algonquin Power & Utilities from C$5.00 to C$6.00 and gave the stock a “hold” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Algonquin Power & Utilities presently has an average rating of “Hold” and an average price target of C$6.00.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at C$7.81 on Monday. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92. The business’s 50 day moving average price is C$7.28 and its 200 day moving average price is C$6.84. The company has a market cap of C$4.23 billion, a price-to-earnings ratio of -3.92, a PEG ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a one year low of C$6.03 and a one year high of C$9.19.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings results on Friday, March 7th. The company reported C$0.06 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. During the same quarter last year, the firm earned $0.16 EPS. On average, research analysts predict that Algonquin Power & Utilities will post 0.4650555 EPS for the current year.

Insider Transactions at Algonquin Power & Utilities

In related news, Director Randy David Laney acquired 9,795 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of C$7.02 per share, for a total transaction of C$68,803.21. Company insiders own 0.06% of the company’s stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.