Wells Fargo & Company Upgrades Algonquin Power & Utilities (TSE:AQN) to Hold

Algonquin Power & Utilities (TSE:AQN) was upgraded by equities research analysts at Wells Fargo & Company to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

AQN has been the topic of several other reports. Barclays set a C$10.00 price target on Algonquin Power & Utilities and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Raymond James Financial raised Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 9th. Finally, TD Securities reduced their target price on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating for the company in a research note on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$7.58.

Algonquin Power & Utilities Trading Up 0.2%

Shares of TSE:AQN opened at C$8.19 on Monday. The company has a market cap of C$6.30 billion, a P/E ratio of 37.23, a P/E/G ratio of 1.07 and a beta of 1.32. The stock’s 50-day moving average is C$8.68 and its 200-day moving average is C$8.64. Algonquin Power & Utilities has a 52-week low of C$7.26 and a 52-week high of C$9.69. The company has a debt-to-equity ratio of 143.58, a quick ratio of 0.37 and a current ratio of 1.05.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings results on Friday, May 8th. The company reported C$0.18 earnings per share (EPS) for the quarter. The company had revenue of C$1.10 billion for the quarter. Algonquin Power & Utilities had a return on equity of 3.63% and a net margin of 6.71%. Equities research analysts predict that Algonquin Power & Utilities will post 0.4650555 earnings per share for the current year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada.