Algonquin Power & Utilities (NYSE:AQN) Raised to Outperform at National Bank Financial

Algonquin Power & Utilities (NYSE:AQN) was upgraded by National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $7.50 price objective on the utilities provider’s stock. National Bank Financial’s price target would indicate a potential upside of 20.87% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Scotiabank raised Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target for the company in a report on Tuesday, December 16th. Raymond James Financial raised their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, October 24th. National Bankshares set a $7.50 target price on Algonquin Power & Utilities in a report on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Algonquin Power & Utilities in a report on Monday, December 29th. Finally, Janney Montgomery Scott set a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.70.

Algonquin Power & Utilities Stock Up 1.6%

Algonquin Power & Utilities stock opened at $6.21 on Wednesday. The firm has a 50 day moving average price of $6.01 and a 200-day moving average price of $5.85. 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 twelve month low of $4.19 and a twelve month high of $6.48. The company has a market capitalization of $4.77 billion, a P/E ratio of -155.09 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $600.80 million for the quarter, compared to analysts’ expectations of $596.67 million. Algonquin Power & Utilities had a positive return on equity of 5.14% and a negative net margin of 1.11%.During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, equities analysts predict that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several institutional investors and hedge funds have recently bought and sold shares of AQN. JPMorgan Chase & Co. lifted its position in Algonquin Power & Utilities by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 271,344 shares of the utilities provider’s stock valued at $1,457,000 after purchasing an additional 35,039 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of Algonquin Power & Utilities by 78.8% in the third quarter. Swiss Life Asset Management Ltd now owns 34,797 shares of the utilities provider’s stock worth $187,000 after buying an additional 15,331 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Algonquin Power & Utilities by 24.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 506,514 shares of the utilities provider’s stock worth $2,705,000 after buying an additional 99,998 shares during the period. PharVision Advisers LLC bought a new stake in Algonquin Power & Utilities during the 3rd quarter valued at $177,000. Finally, XTX Topco Ltd boosted its position in Algonquin Power & Utilities by 325.1% during the 3rd quarter. XTX Topco Ltd now owns 188,126 shares of the utilities provider’s stock valued at $1,010,000 after buying an additional 143,872 shares during the period. 62.28% of the stock is currently owned by 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.