BMO Capital Markets Has Lowered Expectations for Algonquin Power & Utilities (NYSE:AQN) Stock Price

Algonquin Power & Utilities (NYSE:AQN) had its price objective dropped by BMO Capital Markets from $6.50 to $6.00 in a research report issued to clients and investors on Monday, BayStreet reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets‘s target price suggests a potential upside of 5.54% from the company’s previous close.

AQN has been the topic of a number of other reports. National Bank Financial lowered their price objective on shares of Algonquin Power & Utilities from $7.00 to $6.50 and set an “outperform” rating on the stock in a research report on Monday. Weiss Ratings downgraded shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Raymond James Financial restated an “outperform” rating and set a $7.00 price objective (down from $7.25) on shares of Algonquin Power & Utilities in a research report on Monday. Barclays reduced their target price on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, October 1st. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Algonquin Power & Utilities from $6.00 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.48.

Algonquin Power & Utilities Stock Performance

NYSE:AQN traded up $0.17 during trading hours on Monday, reaching $5.68. 4,151,849 shares of the company’s stock were exchanged, compared to its average volume of 4,452,304. Algonquin Power & Utilities has a 1-year low of $4.91 and a 1-year high of $7.11. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 27.07 and a beta of 0.73. The company has a 50-day moving average of $5.32 and a 200 day moving average of $5.94.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, November 6th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Algonquin Power & Utilities had a return on equity of 5.57% and a net margin of 6.44%. The business had revenue of $642.50 million for the quarter, compared to analyst estimates of $647.20 million. 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. Research analysts anticipate that Algonquin Power & Utilities will post 0.35 EPS for the current year.

Institutional Trading of Algonquin Power & Utilities

A number of institutional investors have recently modified their holdings of the business. Phoenix Financial Ltd. acquired a new position in Algonquin Power & Utilities during the third quarter worth $106,000. Russell Investments Group Ltd. raised its position in Algonquin Power & Utilities by 17.5% in the third quarter. Russell Investments Group Ltd. now owns 5,522,032 shares of the utilities provider’s stock worth $27,809,000 after acquiring an additional 821,526 shares in the last quarter. Private Management Group Inc. raised its position in Algonquin Power & Utilities by 8.1% in the third quarter. Private Management Group Inc. now owns 6,786,610 shares of the utilities provider’s stock worth $34,137,000 after acquiring an additional 510,797 shares in the last quarter. Ethic Inc. purchased a new position in Algonquin Power & Utilities in the third quarter worth $59,000. Finally, Pictet Asset Management Holding SA lifted its holdings in Algonquin Power & Utilities by 1.5% in the third quarter. Pictet Asset Management Holding SA now owns 145,655 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 2,173 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities