Algonquin Power & Utilities Corp. (AQN) Stock Rating Lowered by Zacks Investment Research

Algonquin Power & Utilities Corp. (NYSE:AQN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “

Separately, Wells Fargo & Company started coverage on shares of Algonquin Power & Utilities Corp. in a research note on Tuesday, June 20th. They issued a “market perform” rating for the company.

Shares of Algonquin Power & Utilities Corp. (AQN) opened at 10.79 on Monday. Algonquin Power & Utilities Corp. has a 52-week low of $7.75 and a 52-week high of $11.21. The firm has a market capitalization of $4.16 billion, a P/E ratio of 62.73 and a beta of 0.81. The stock’s 50 day moving average is $10.70 and its 200-day moving average is $10.10.

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Several large investors have recently modified their holdings of the company. Virtu KCG Holdings LLC lifted its stake in shares of Algonquin Power & Utilities Corp. by 7.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 13,997 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 965 shares during the period. KCG Holdings Inc. lifted its stake in shares of Algonquin Power & Utilities Corp. by 21.3% in the 1st quarter. KCG Holdings Inc. now owns 13,032 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 2,288 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Algonquin Power & Utilities Corp. by 4.6% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 82,270 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 3,600 shares during the period. Naples Global Advisors LLC lifted its stake in shares of Algonquin Power & Utilities Corp. by 3.8% in the 2nd quarter. Naples Global Advisors LLC now owns 135,205 shares of the utilities provider’s stock worth $1,425,000 after acquiring an additional 5,000 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Algonquin Power & Utilities Corp. by 1.4% in the 1st quarter. Swiss National Bank now owns 387,100 shares of the utilities provider’s stock worth $3,697,000 after acquiring an additional 5,200 shares during the period. 38.06% of the stock is owned by institutional investors.

About Algonquin Power & Utilities Corp.

Algonquin Power & Utilities Corp., through its subsidiaries, engages in the generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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