Algonquin Power & Utilities (NYSE:AQN – Get Free Report) was upgraded by equities researchers at National Bank Financial from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q3 2024 earnings at $0.11 EPS, FY2024 earnings at $0.47 EPS and FY2026 earnings at $0.45 EPS.
AQN has been the subject of several other reports. Royal Bank of Canada reduced their price target on Algonquin Power & Utilities from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday. StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a report on Friday, May 10th. Raymond James lowered Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $7.75 to $7.00 in a report on Monday. Wells Fargo & Company lowered Algonquin Power & Utilities from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.50 to $6.00 in a report on Monday. Finally, Desjardins reduced their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.36.
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Algonquin Power & Utilities Stock Down 0.7 %
Shares of Algonquin Power & Utilities stock opened at $5.12 on Monday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -10.44 and a beta of 0.66. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.79. Algonquin Power & Utilities has a 52-week low of $4.90 and a 52-week high of $7.67. The stock has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $6.09.
Algonquin Power & Utilities (NYSE:AQN – Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $598.60 million during the quarter, compared to analyst estimates of $635.95 million. Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. On average, equities research analysts expect that Algonquin Power & Utilities will post 0.46 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its position in Algonquin Power & Utilities by 18.1% in the 2nd quarter. XTX Topco Ltd now owns 50,195 shares of the utilities provider’s stock worth $294,000 after buying an additional 7,697 shares during the period. Hsbc Holdings PLC increased its position in Algonquin Power & Utilities by 28.3% in the 2nd quarter. Hsbc Holdings PLC now owns 315,576 shares of the utilities provider’s stock worth $1,865,000 after buying an additional 69,593 shares during the period. O Brien Greene & Co. Inc bought a new position in Algonquin Power & Utilities in the 2nd quarter worth approximately $744,000. Vanguard Personalized Indexing Management LLC increased its position in Algonquin Power & Utilities by 12.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,019 shares of the utilities provider’s stock worth $511,000 after buying an additional 9,717 shares during the period. Finally, Quantbot Technologies LP increased its position in shares of Algonquin Power & Utilities by 86.1% during the second quarter. Quantbot Technologies LP now owns 707,707 shares of the utilities provider’s stock valued at $4,147,000 after purchasing an additional 327,455 shares during the period. 62.28% of the stock is owned by institutional investors.
Algonquin Power & Utilities Company Profile
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.
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