Scotiabank Issues Positive Forecast for Algonquin Power & Utilities (NYSE:AQN) Stock Price

Algonquin Power & Utilities (NYSE:AQN) had its price target raised by Scotiabank from $5.25 to $5.50 in a report released on Thursday, Marketbeat.com reports. Scotiabank currently has a sector perform rating on the utilities provider’s stock.

AQN has been the topic of several other research reports. National Bankshares reduced their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday. CIBC reduced their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Finally, Wells Fargo & Company dropped 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.05.

Algonquin Power & Utilities Stock Up 2.0 %

Shares of NYSE AQN opened at $4.81 on Thursday. The stock has a market capitalization of $3.69 billion, a P/E ratio of -3.72 and a beta of 0.69. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.79. The firm’s 50 day simple moving average is $4.47 and its two-hundred day simple moving average is $4.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73.

Institutional Investors Weigh In On Algonquin Power & Utilities

Large investors have recently made changes to their positions in the business. Capstone Investment Advisors LLC purchased a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $58,000. Walleye Capital LLC purchased a new stake in shares of Algonquin Power & Utilities during the third quarter valued at $59,000. SVB Wealth LLC bought a new stake in Algonquin Power & Utilities in the 4th quarter worth about $49,000. Verdence Capital Advisors LLC purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth about $61,000. Finally, Avantax Advisory Services Inc. purchased a new position in Algonquin Power & Utilities in the 4th quarter worth about $58,000. 62.28% of the stock is currently owned by institutional investors.

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.