Algonquin Power & Utilities (NYSE:AQN) Price Target Raised to $7.25 at Desjardins

Algonquin Power & Utilities (NYSE:AQN) had its price target increased by Desjardins from $7.00 to $7.25 in a research report released on Thursday,BayStreet.CA reports. They currently have a buy rating on the utilities provider’s stock.

A number of other research firms have also recently weighed in on AQN. National Bankshares set a $7.50 price target on shares of Algonquin Power & Utilities in a report on Wednesday, January 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research note on Monday, December 29th. Natl Bk Canada raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Zacks Research raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial boosted their target price on 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. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.75.

Algonquin Power & Utilities Stock Down 0.2%

Shares of NYSE AQN opened at $6.53 on Thursday. Algonquin Power & Utilities has a 12-month low of $4.29 and a 12-month high of $6.68. The stock’s fifty day simple moving average is $6.24 and its two-hundred day simple moving average is $5.95. The stock has a market capitalization of $5.01 billion, a PE ratio of -163.08 and a beta of 0.76. 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 (NYSE:AQN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, topping 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 firm had revenue of $600.80 million during the quarter, compared to analysts’ expectations of $596.67 million. During the same period in the prior year, the business posted $0.08 EPS. As a group, analysts expect that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Institutional Trading of Algonquin Power & Utilities

Several large investors have recently added to or reduced their stakes in AQN. EdgePoint Investment Group Inc. raised its stake in shares of Algonquin Power & Utilities by 8.6% in 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 last quarter. Vanguard Group Inc. increased its holdings in Algonquin Power & Utilities by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock worth $211,871,000 after buying an additional 711,569 shares during the period. Bank of Montreal Can raised its position in Algonquin Power & Utilities by 12.5% during the 3rd quarter. Bank of Montreal Can now owns 16,830,890 shares of the utilities provider’s stock worth $90,441,000 after buying an additional 1,863,459 shares during the last quarter. Ariel Investments LLC raised its position in Algonquin Power & Utilities by 88.6% during the 2nd quarter. Ariel Investments LLC now owns 13,112,831 shares of the utilities provider’s stock worth $75,137,000 after buying an additional 6,160,490 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Algonquin Power & Utilities by 65.0% during 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 acquiring an additional 4,808,539 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

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.