Algonquin Power & Utilities (NYSE:AQN) Price Target Raised to $5.50 at Scotiabank

Algonquin Power & Utilities (NYSE:AQN) had its price target raised by analysts at Scotiabank from $5.25 to $5.50 in a report issued on Thursday, Marketbeat.com reports. The brokerage presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s target price indicates a potential upside of 14.46% from the stock’s previous close.

Several other equities research analysts also recently issued reports on AQN. Wells Fargo & Company cut their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. CIBC cut their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Finally, National Bankshares lowered their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.05.

Algonquin Power & Utilities Trading Up 2.0 %

Shares of AQN stock traded up $0.10 on Thursday, hitting $4.81. The stock had a trading volume of 5,547,160 shares, compared to its average volume of 8,114,937. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm has a market capitalization of $3.69 billion, a P/E ratio of -3.73 and a beta of 0.69. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.79. The company’s 50 day moving average price is $4.47 and its 200-day moving average price is $4.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AQN. SVB Wealth LLC acquired a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at about $49,000. Capstone Investment Advisors LLC purchased a new stake in Algonquin Power & Utilities during the 3rd quarter valued at approximately $58,000. Avantax Advisory Services Inc. purchased a new stake in Algonquin Power & Utilities during the 4th quarter valued at approximately $58,000. Walleye Capital LLC purchased a new stake in Algonquin Power & Utilities during the 3rd quarter valued at approximately $59,000. Finally, Verdence Capital Advisors LLC purchased a new stake in Algonquin Power & Utilities during the 3rd quarter valued at approximately $61,000. 62.28% of the stock is owned by institutional investors and hedge funds.

About Algonquin Power & Utilities

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.