National Bankshares Cuts Algonquin Power & Utilities (NYSE:AQN) Price Target to $6.25

Algonquin Power & Utilities (NYSE:AQN) had its price objective cut by equities research analysts at National Bankshares from $6.75 to $6.25 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ price target indicates a potential upside of 36.31% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. CIBC reduced their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company reduced their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, Scotiabank reduced their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.03.

Algonquin Power & Utilities Stock Up 0.3 %

AQN traded up $0.02 on Tuesday, hitting $4.59. The company had a trading volume of 3,109,315 shares, compared to its average volume of 8,052,614. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.79. The stock has a fifty day simple moving average of $4.48 and a 200-day simple moving average of $4.98. The firm has a market capitalization of $3.52 billion, a P/E ratio of -3.55 and a beta of 0.69.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP lifted its stake in shares of Algonquin Power & Utilities by 16.5% during the 4th quarter. Quantbot Technologies LP now owns 728,307 shares of the utilities provider’s stock valued at $3,241,000 after buying an additional 103,217 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in Algonquin Power & Utilities by 6.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider’s stock valued at $223,000 after acquiring an additional 3,096 shares during the last quarter. Signaturefd LLC increased its holdings in Algonquin Power & Utilities by 18.5% in the 4th quarter. Signaturefd LLC now owns 42,383 shares of the utilities provider’s stock valued at $189,000 after acquiring an additional 6,602 shares during the last quarter. Natixis Advisors LLC bought a new stake in Algonquin Power & Utilities in the 4th quarter valued at $469,000. Finally, Swiss National Bank increased its holdings in shares of Algonquin Power & Utilities by 0.6% in the 4th quarter. Swiss National Bank now owns 1,441,700 shares of the utilities provider’s stock worth $6,396,000 after buying an additional 8,700 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.