National Bank Financial Increases Algonquin Power & Utilities (NYSE:AQN) Price Target to $15.50

Algonquin Power & Utilities (NYSE:AQN) had its price objective raised by analysts at National Bank Financial from $15.00 to $15.50 in a report issued on Thursday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. National Bank Financial’s price objective would suggest a potential downside of 5.89% from the stock’s previous close.

AQN has been the subject of several other reports. Howard Weil lowered shares of Algonquin Power & Utilities from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 4th. Raymond James set a $16.00 target price on shares of Algonquin Power & Utilities and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating in a report on Wednesday, December 4th. TD Securities lifted their target price on shares of Algonquin Power & Utilities from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley began coverage on shares of Algonquin Power & Utilities in a report on Friday, February 7th. They set an “overweight” rating and a $17.00 target price for the company. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Algonquin Power & Utilities has a consensus rating of “Buy” and a consensus target price of $15.18.

NYSE:AQN opened at $16.47 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.59. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.07 and a beta of 0.55. The company has a 50 day moving average price of $14.86 and a 200-day moving average price of $13.87. Algonquin Power & Utilities has a 1-year low of $10.70 and a 1-year high of $16.51.

A number of institutional investors and hedge funds have recently made changes to their positions in AQN. Ladenburg Thalmann Financial Services Inc. grew its position in Algonquin Power & Utilities by 1,049.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 3,957 shares during the last quarter. Fieldpoint Private Securities LLC grew its position in Algonquin Power & Utilities by 56.7% during the 4th quarter. Fieldpoint Private Securities LLC now owns 4,286 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 1,551 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Algonquin Power & Utilities by 12.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,451 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 1,180 shares during the last quarter. FIL Ltd bought a new stake in Algonquin Power & Utilities during the 4th quarter worth approximately $169,000. Finally, Csenge Advisory Group grew its position in Algonquin Power & Utilities by 13.0% during the 4th quarter. Csenge Advisory Group now owns 13,124 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 1,513 shares during the last quarter. 43.16% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

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