Algonquin Power & Utilities (NYSE:AQN) Rating Increased to Sell at StockNews.com

Algonquin Power & Utilities (NYSE:AQN) was upgraded by StockNews.com to a “sell” rating in a research note issued to investors on Wednesday.

A number of other analysts also recently weighed in on the stock. CIBC upped their price target on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. BMO Capital Markets raised shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $7.00 to $7.50 in a report on Monday, January 8th. Desjardins raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating and upped their price target for the stock from $4.75 to $5.75 in a report on Monday, March 11th. TD Securities upped their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a report on Monday, March 11th. Finally, National Bankshares cut their price target on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating for the company in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.78.

Algonquin Power & Utilities Stock Performance

Shares of NYSE:AQN opened at $5.84 on Wednesday. The company’s 50 day moving average price is $6.02 and its two-hundred day moving average price is $5.97. Algonquin Power & Utilities has a 12-month low of $4.90 and a 12-month high of $9.14. The firm has a market cap of $4.02 billion, a PE ratio of 194.50 and a beta of 0.66. The company has a quick ratio of 0.50, a current ratio of 0.63 and a debt-to-equity ratio of 1.23.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, March 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The firm had revenue of $666.90 million for the quarter, compared to analyst estimates of $661.73 million. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue was down 10.8% compared to the same quarter last year. Equities research analysts predict that Algonquin Power & Utilities will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several large investors have recently modified their holdings of the business. Alpha Omega Wealth Management LLC raised its stake in shares of Algonquin Power & Utilities by 8.2% during the first quarter. Alpha Omega Wealth Management LLC now owns 592,430 shares of the utilities provider’s stock valued at $3,744,000 after acquiring an additional 44,714 shares during the last quarter. DGS Capital Management LLC bought a new position in shares of Algonquin Power & Utilities during the first quarter valued at $169,000. Nomura Holdings Inc. bought a new position in shares of Algonquin Power & Utilities during the fourth quarter valued at $318,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Algonquin Power & Utilities by 166.5% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,266,810 shares of the utilities provider’s stock worth $7,997,000 after buying an additional 791,410 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Algonquin Power & Utilities by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 25,986,559 shares of the utilities provider’s stock worth $164,235,000 after buying an additional 268,800 shares during the period. Institutional investors own 62.28% of the company’s stock.

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.