Algonquin Power & Utilities (NYSE:AQN) Price Target Raised to $7.70 at CIBC

Algonquin Power & Utilities (NYSE:AQN) had its price objective increased by equities research analysts at CIBC from $7.50 to $7.70 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a “neutral” rating on the utilities provider’s stock. CIBC’s price objective indicates a potential upside of 31.40% from the stock’s previous close.

A number of other equities analysts also recently commented on AQN. TD Securities increased their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Monday, March 11th. StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a research note on Friday, May 10th. National Bankshares upped their price objective on Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. Desjardins increased their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “hold” rating in a report on Thursday, June 6th. Finally, Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.49.

Algonquin Power & Utilities Stock Down 0.2 %

Shares of AQN stock traded down $0.01 on Tuesday, hitting $5.86. 4,631,527 shares of the stock were exchanged, compared to its average volume of 5,353,765. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $4.49 billion, a P/E ratio of -12.00 and a beta of 0.66. Algonquin Power & Utilities has a fifty-two week low of $4.90 and a fifty-two week high of $8.51. The business has a 50-day moving average of $6.23 and a 200 day moving average of $6.15.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $737.10 million for the quarter, compared to the consensus estimate of $813.38 million. Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. Algonquin Power & Utilities’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. Equities analysts anticipate that Algonquin Power & Utilities will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Pacifica Partners Inc. grew its position in shares of Algonquin Power & Utilities by 1,975.0% in the fourth quarter. Pacifica Partners Inc. now owns 4,150 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 3,950 shares during the last quarter. Parallel Advisors LLC increased its position in Algonquin Power & Utilities by 76.3% during the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock worth $27,000 after buying an additional 1,882 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth $64,000. Seven Mile Advisory bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at about $67,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Algonquin Power & Utilities in the fourth quarter valued at about $70,000. 62.28% of the stock is owned by institutional investors.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.