Algonquin Power & Utilities (NYSE:AQN) Stock Rating Upgraded by National Bank Financial

Algonquin Power & Utilities (NYSE:AQN) was upgraded by investment analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a $7.50 price target on the utilities provider’s stock. National Bank Financial’s price target indicates a potential upside of 20.48% from the company’s previous close.

A number of other brokerages have also recently commented on AQN. Raymond James Financial raised their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, October 24th. National Bankshares set a $7.50 price target on shares of Algonquin Power & Utilities in a research report on Wednesday. Scotiabank upgraded Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target on the stock in a research report on Tuesday, December 16th. Wall Street Zen upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Algonquin Power & Utilities in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.70.

Algonquin Power & Utilities Price Performance

Shares of NYSE:AQN opened at $6.23 on Wednesday. The firm has a market capitalization of $4.78 billion, a PE ratio of -155.59 and a beta of 0.75. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities has a 1-year low of $4.19 and a 1-year high of $6.62. The business’s 50 day moving average is $6.04 and its 200-day moving average is $5.86.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Algonquin Power & Utilities had a positive return on equity of 5.14% and a negative net margin of 1.11%.The business had revenue of $600.80 million during the quarter, compared to analyst estimates of $596.67 million. During the same period in the prior year, the company posted $0.08 earnings per share. Sell-side analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Institutional Trading of Algonquin Power & Utilities

Institutional investors and hedge funds have recently made changes to their positions in the business. EdgePoint Investment Group Inc. grew its stake in shares of Algonquin Power & Utilities by 8.6% during the third quarter. EdgePoint Investment Group Inc. now owns 61,652,676 shares of the utilities provider’s stock worth $331,292,000 after purchasing an additional 4,888,235 shares during the period. Vanguard Group Inc. increased its stake in shares of Algonquin Power & Utilities by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 33,744,586 shares of the utilities provider’s stock valued at $181,377,000 after acquiring an additional 1,086,040 shares during the last quarter. Bank of Montreal Can increased its stake in Algonquin Power & Utilities by 12.5% in the third quarter. Bank of Montreal Can now owns 16,830,890 shares of the utilities provider’s stock valued at $90,441,000 after purchasing an additional 1,863,459 shares in the last quarter. Ariel Investments LLC increased its stake in Algonquin Power & Utilities by 88.6% in the second quarter. Ariel Investments LLC now owns 13,112,831 shares of the utilities provider’s stock valued at $75,137,000 after purchasing an additional 6,160,490 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Algonquin Power & Utilities by 65.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after buying an additional 4,808,539 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.