Algonquin Power & Utilities Corp. (TSE:AQN) Receives C$8.00 Average Target Price from Brokerages

Algonquin Power & Utilities Corp. (TSE:AQN – Get Free Report) has been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$8.00.

A number of equities research analysts have issued reports on AQN shares. TD Securities cut 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 research note on Monday, March 9th. Wells Fargo & Company raised shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, May 11th. Raymond James Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 9th. Finally, Barclays set a C$10.00 price objective on shares of Algonquin Power & Utilities and gave the stock an “overweight” rating in a research note on Wednesday, April 1st.

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Algonquin Power & Utilities Stock Performance

Shares of AQN opened at C$8.32 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 1.05 and a debt-to-equity ratio of 143.58. The business’s 50 day moving average price is C$8.40 and its 200-day moving average price is C$8.62. Algonquin Power & Utilities has a 52 week low of C$7.26 and a 52 week high of C$9.69. The stock has a market cap of C$6.40 billion, a P/E ratio of 39.62, a P/E/G ratio of 1.07 and a beta of 1.46.

Algonquin Power & Utilities (TSE:AQN – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported C$0.18 EPS for the quarter. Algonquin Power & Utilities had a return on equity of 3.63% and a net margin of 6.71%.The firm had revenue of C$1.10 billion for the quarter. Equities research analysts anticipate that Algonquin Power & Utilities will post 0.4650555 earnings per share for the current fiscal year.

About Algonquin Power & Utilities

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Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.

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