Algonquin Power & Utilities Corp. (TSE:AQN) Receives Consensus Recommendation of “Buy” from Analysts

Algonquin Power & Utilities Corp. (TSE:AQN) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$7.58.

AQN has been the subject of several recent analyst reports. TD Securities lowered their price target on Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating for the company in a report on Monday, March 9th. Raymond James Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a report on Monday, March 9th. Wells Fargo & Company upgraded Algonquin Power & Utilities to a “hold” rating in a report on Monday, May 11th. Finally, Barclays set a C$10.00 price objective on Algonquin Power & Utilities and gave the stock an “overweight” rating in a report on Wednesday, April 1st.

Algonquin Power & Utilities Stock Down 1.6%

Shares of Algonquin Power & Utilities stock opened at C$7.94 on Friday. Algonquin Power & Utilities has a 1 year low of C$7.26 and a 1 year high of C$9.69. The business has a 50-day moving average of C$8.59 and a two-hundred day moving average of C$8.63. The company has a market capitalization of C$6.11 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32. The company has a debt-to-equity ratio of 143.58, a current ratio of 1.05 and a quick ratio of 0.37.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings results on Friday, May 8th. The company reported C$0.18 earnings per share (EPS) for the quarter. Algonquin Power & Utilities had a return on equity of 3.63% and a net margin of 6.71%.The company had revenue of C$1.10 billion during the quarter. As a group, equities analysts predict that Algonquin Power & Utilities will post 0.4650555 EPS for the current year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada.