Analysts Set Algonquin Power & Utilities Corp. (TSE:AQN) Price Target at C$8.00

Algonquin Power & Utilities Corp. (TSE:AQN) has earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$8.00.

Several research firms recently issued reports on AQN. Wells Fargo & Company raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, May 11th. Barclays set a C$10.00 price objective on shares of Algonquin Power & Utilities and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Raymond James Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a report on Monday, March 9th. Finally, TD Securities cut their price target on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating on the stock in a report on Monday, March 9th.

Algonquin Power & Utilities Trading Up 1.2%

AQN opened at C$8.32 on Wednesday. Algonquin Power & Utilities has a 1-year low of C$7.26 and a 1-year high of C$9.69. The company has a current ratio of 1.05, a quick ratio of 0.37 and a debt-to-equity ratio of 143.58. The company has a market cap of C$6.40 billion, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 1.07 and a beta of 1.46. The company has a fifty day moving average price of C$8.40 and a two-hundred day moving average price of C$8.62.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.18 earnings per share for the quarter. Algonquin Power & Utilities had a net margin of 6.71% and a return on equity of 3.63%. The firm had revenue of C$1.10 billion during the quarter. Analysts predict that Algonquin Power & Utilities will post 0.4650555 EPS for the current fiscal year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.