Algonquin Power & Utilities’ (AQN) Market Perform Rating Reaffirmed at BMO Capital Markets

Algonquin Power & Utilities (NYSE:AQN)‘s stock had its “market perform” rating reaffirmed by equities researchers at BMO Capital Markets in a note issued to investors on Monday,Benzinga reports. They presently have a $6.00 price objective on the utilities provider’s stock, up from their prior price objective of $5.00. BMO Capital Markets’ price objective points to a potential upside of 3.90% from the stock’s current price.

A number of other equities analysts also recently issued reports on AQN. National Bankshares dropped their price objective 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, February 11th. CIBC dropped their price objective on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Scotiabank raised their price objective on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Royal Bank of Canada boosted their target price on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Hold” and a consensus target price of $6.03.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock traded down $0.22 during midday trading on Monday, reaching $5.78. 10,045,094 shares of the stock were exchanged, compared to its average volume of 11,126,397. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.75. The firm has a market cap of $4.43 billion, a PE ratio of -4.48 and a beta of 0.67. The company’s fifty day moving average is $5.14 and its 200-day moving average is $4.82.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $692.40 million during the quarter, compared to analysts’ expectations of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same quarter in the prior year, the company posted $0.14 EPS. On average, sell-side analysts forecast that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of Algonquin Power & Utilities by 85.7% in the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 2,256 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Algonquin Power & Utilities in the 1st quarter worth approximately $51,000. SVB Wealth LLC bought a new stake in Algonquin Power & Utilities during the 4th quarter valued at $49,000. Sowell Financial Services LLC purchased a new position in shares of Algonquin Power & Utilities during the first quarter valued at $59,000. Finally, Oakwell Private Wealth Management LLC acquired a new stake in Algonquin Power & Utilities in the 1st quarter worth approximately $63,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

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.