Algonquin Power & Utilities (NYSE:AQN) Stock Price Expected to Rise, Scotiabank Analyst Says

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 currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price target would suggest a potential upside of 14.46% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on AQN. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. CIBC dropped their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, National Bankshares decreased their price target 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus target price of $6.05.

Algonquin Power & Utilities Stock Up 2.0 %

AQN stock traded up $0.10 during trading on Thursday, reaching $4.81. 5,547,160 shares of the company traded hands, compared to its average volume of 8,114,937. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.79. The business has a 50 day simple moving average of $4.47 and a 200 day simple moving average of $4.96. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -3.73 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

Institutional Trading of Algonquin Power & Utilities

A number of institutional investors have recently made changes to their positions in AQN. SVB Wealth LLC purchased a new position in Algonquin Power & Utilities during the fourth quarter worth approximately $49,000. Capstone Investment Advisors LLC purchased a new stake in Algonquin Power & Utilities in the third quarter valued at $58,000. Avantax Advisory Services Inc. purchased a new stake in Algonquin Power & Utilities in the fourth quarter valued at $58,000. Walleye Capital LLC purchased a new stake in Algonquin Power & Utilities in the third quarter valued at $59,000. Finally, Verdence Capital Advisors LLC purchased a new stake in Algonquin Power & Utilities in the third quarter valued at $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.