Algonquin Power & Utilities (NYSE:AQN)‘s stock had its “buy” rating reiterated by investment analysts at Industrial Alliance Securities in a research note issued to investors on Monday, TipRanks reports.

AQN has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price objective on shares of Algonquin Power & Utilities from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday. National Bank Financial lifted their price objective on shares of Algonquin Power & Utilities from $12.00 to $12.50 and gave the company a “sector perform” rating in a research report on Friday, June 21st. Raymond James reissued a “strong-buy” rating and issued a $15.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, August 9th. Finally, ValuEngine downgraded shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $13.00.

Shares of AQN traded down $0.10 during midday trading on Monday, reaching $12.88. The stock had a trading volume of 166,822 shares, compared to its average volume of 306,922. The company’s 50 day simple moving average is $12.50. Algonquin Power & Utilities has a one year low of $9.63 and a one year high of $13.07. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.64 and a beta of 0.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.10 and a current ratio of 1.29.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Algonquin Power & Utilities had a net margin of 21.46% and a return on equity of 7.71%. The firm had revenue of $343.58 million during the quarter, compared to the consensus estimate of $372.40 million. As a group, analysts anticipate that Algonquin Power & Utilities will post 0.64 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of AQN. Winslow Evans & Crocker Inc. acquired a new stake in Algonquin Power & Utilities in the 2nd quarter worth about $28,000. Steward Partners Investment Advisory LLC acquired a new stake in Algonquin Power & Utilities in the 2nd quarter worth about $34,000. Comerica Bank raised its stake in Algonquin Power & Utilities by 9.6% in the 1st quarter. Comerica Bank now owns 10,978 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 963 shares in the last quarter. Csenge Advisory Group acquired a new stake in Algonquin Power & Utilities in the 2nd quarter worth about $146,000. Finally, Verity Asset Management Inc. raised its stake in Algonquin Power & Utilities by 14.0% in the 2nd quarter. Verity Asset Management Inc. now owns 12,670 shares of the utilities provider’s stock worth $153,000 after purchasing an additional 1,557 shares in the last quarter. Institutional investors and hedge funds own 46.86% of the company’s stock.

About Algonquin Power & Utilities

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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