Algonquin Power & Utilities (NYSE:AQN – Get Free Report) had its price objective boosted by Scotiabank from $5.25 to $5.50 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price target points to a potential upside of 13.52% from the company’s previous close.
Other equities analysts also recently issued reports about the company. National Bankshares lowered their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. CIBC lowered their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.05.
View Our Latest Stock Analysis on Algonquin Power & Utilities
Algonquin Power & Utilities Price Performance
Shares of AQN opened at $4.85 on Thursday. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -3.76 and a beta of 0.69. The business has a 50-day moving average of $4.48 and a 200-day moving average of $4.95.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of AQN. Bfsg LLC purchased a new position in shares of Algonquin Power & Utilities during the third quarter valued at approximately $119,000. Private Advisor Group LLC boosted its position in shares of Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock valued at $97,000 after buying an additional 2,201 shares during the last quarter. Private Management Group Inc. purchased a new position in shares of Algonquin Power & Utilities during the third quarter valued at approximately $12,361,000. Van ECK Associates Corp purchased a new position in shares of Algonquin Power & Utilities during the third quarter valued at approximately $1,058,000. Finally, Fiera Capital Corp purchased a new position in shares of Algonquin Power & Utilities during the third quarter valued at approximately $96,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.
About Algonquin Power & Utilities
Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.
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