National Bankshares Has Lowered Expectations for Algonquin Power & Utilities (NYSE:AQN) Stock Price

Algonquin Power & Utilities (NYSE:AQN) had its price objective reduced by equities researchers at National Bankshares from $6.75 to $6.25 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ price objective would indicate a potential upside of 32.42% from the company’s current price.

A number of other analysts have also recently issued reports on AQN. Wells Fargo & Company lowered their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. CIBC decreased their target price on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.03.

Algonquin Power & Utilities Stock Up 2.6 %

AQN stock opened at $4.72 on Tuesday. The business’s 50-day simple moving average is $4.47 and its 200 day simple moving average is $4.96. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.62 billion, a PE ratio of -3.66 and a beta of 0.69. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.79.

Institutional Investors Weigh In On Algonquin Power & Utilities

Hedge funds and other institutional investors have recently bought and sold shares of the business. SVB Wealth LLC acquired a new position in Algonquin Power & Utilities in the fourth quarter worth $49,000. Capstone Investment Advisors LLC acquired a new position in Algonquin Power & Utilities during the 3rd quarter worth about $58,000. Avantax Advisory Services Inc. bought a new stake in Algonquin Power & Utilities during the 4th quarter worth about $58,000. Walleye Capital LLC acquired a new stake in Algonquin Power & Utilities in the 3rd quarter valued at about $59,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Algonquin Power & Utilities in the third quarter worth about $61,000. 62.28% of the stock is owned by institutional investors and hedge funds.

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.