Desjardins Lowers Algonquin Power & Utilities (NYSE:AQN) Price Target to $7.00

Algonquin Power & Utilities (NYSE:AQN) had its target price cut by analysts at Desjardins from $7.25 to $7.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Desjardins’ price target indicates a potential upside of 13.64% from the stock’s current price.

A number of other brokerages have also issued reports on AQN. National Bank Financial set a $7.50 price target on shares of Algonquin Power & Utilities in a report on Wednesday, January 7th. Weiss Ratings downgraded Algonquin Power & Utilities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Scotiabank upgraded Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price objective for the company in a report on Tuesday, December 16th. Janney Montgomery Scott set a $7.00 target price on Algonquin Power & Utilities in a research note on Monday, November 10th. Finally, Wall Street Zen raised Algonquin Power & Utilities from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

Algonquin Power & Utilities Trading Up 1.3%

Shares of NYSE AQN traded up $0.08 during midday trading on Monday, reaching $6.16. The company had a trading volume of 3,142,801 shares, compared to its average volume of 4,946,968. The firm’s fifty day moving average price is $6.54 and its 200-day moving average price is $6.08. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities has a one year low of $4.45 and a one year high of $7.11. The stock has a market cap of $4.73 billion, a PE ratio of 26.78 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, March 6th. The utilities provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $625.77 million. Algonquin Power & Utilities had a return on equity of 5.45% and a net margin of 7.32%.The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. On average, equities research analysts anticipate that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth about $29,000. Group One Trading LLC grew its holdings in shares of Algonquin Power & Utilities by 63.3% during the fourth quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock valued at $46,000 after buying an additional 2,900 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the fourth quarter valued at approximately $47,000. Fiera Capital Corp purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth approximately $55,000. Finally, Vise Technologies Inc. bought a new position in Algonquin Power & Utilities in the 3rd quarter valued at approximately $56,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

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.