Royal Bank of Canada Cuts Algonquin Power & Utilities (NYSE:AQN) Price Target to $5.50

Algonquin Power & Utilities (NYSE:AQN) had its target price cut by stock analysts at Royal Bank of Canada from $6.00 to $5.50 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the utilities provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.05% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Scotiabank raised their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. CIBC decreased their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, National Bankshares cut their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Algonquin Power & Utilities Trading Up 0.5 %

Algonquin Power & Utilities stock traded up $0.03 during mid-day trading on Tuesday, hitting $4.87. The company’s stock had a trading volume of 2,016,709 shares, compared to its average volume of 8,099,098. The business has a 50 day moving average price of $4.48 and a 200-day moving average price of $4.93. 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 12 month low of $4.19 and a 12 month high of $6.79. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -3.77 and a beta of 0.69.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SVB Wealth LLC bought a new position in Algonquin Power & Utilities in the 4th quarter valued at approximately $49,000. Capstone Investment Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities during the third quarter valued at $58,000. Avantax Advisory Services Inc. purchased a new position in Algonquin Power & Utilities in the 4th quarter worth about $58,000. Walleye Capital LLC bought a new position in Algonquin Power & Utilities during the 3rd quarter valued at about $59,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $61,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

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.