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

Algonquin Power & Utilities (NYSE:AQN) had its price objective decreased by National Bank Financial from $7.25 to $7.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the utilities provider’s stock. National Bank Financial’s price objective points to a potential upside of 27.39% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. TD Cowen dropped their target price on Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Desjardins lowered their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Wall Street Zen cut shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Zacks Research downgraded shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Raymond James Financial upgraded shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $6.50 to $7.25 in a research report on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.81.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock traded up $0.01 during trading hours on Friday, reaching $5.50. The company’s stock had a trading volume of 11,247,353 shares, compared to its average volume of 3,856,917. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05. Algonquin Power & Utilities has a one year low of $5.32 and a one year high of $7.11. The company’s 50 day simple moving average is $5.98 and its 200 day simple moving average is $6.26. The stock has a market cap of $4.23 billion, a P/E ratio of 24.98 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $713.69 million for the quarter, compared to analysts’ expectations of $713.69 million. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. During the same quarter last year, the company posted $0.14 earnings per share. As a group, analysts expect that Algonquin Power & Utilities will post 0.36 EPS for the current fiscal year.

Institutional Trading of Algonquin Power & Utilities

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Algonquin Power & Utilities by 65.0% in the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after acquiring an additional 4,808,539 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Algonquin Power & Utilities in the second quarter worth approximately $85,000. American Century Companies Inc. boosted its stake in Algonquin Power & Utilities by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 240,683 shares of the utilities provider’s stock valued at $1,377,000 after purchasing an additional 18,752 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Algonquin Power & Utilities by 15.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 120,708 shares of the utilities provider’s stock valued at $691,000 after purchasing an additional 16,552 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Algonquin Power & Utilities by 465.0% during the 2nd quarter. Marshall Wace LLP now owns 106,046 shares of the utilities provider’s stock valued at $608,000 after purchasing an additional 87,276 shares during the period. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.