StockNews.com Upgrades Algonquin Power & Utilities (NYSE:AQN) to Sell

Algonquin Power & Utilities (NYSE:AQN) was upgraded by research analysts at StockNews.com to a “sell” rating in a note issued to investors on Thursday.

AQN has been the topic of several other research reports. TD Securities increased their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “hold” rating in a research note on Monday, March 11th. Scotiabank decreased their price objective on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. CIBC upped their target price on Algonquin Power & Utilities from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Desjardins upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating and increased their price target for the stock from $4.75 to $5.75 in a report on Monday, March 11th. Finally, National Bankshares dropped their price objective on Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating for the company in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of “Hold” and an average price target of $7.67.

Algonquin Power & Utilities Trading Up 0.6 %

AQN opened at $6.54 on Thursday. The stock has a 50-day moving average of $6.09 and a 200 day moving average of $6.01. The company has a current ratio of 0.63, a quick ratio of 0.50 and a debt-to-equity ratio of 1.23. Algonquin Power & Utilities has a 12 month low of $4.90 and a 12 month high of $9.14. The firm has a market cap of $4.51 billion, a P/E ratio of 217.83 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $666.90 million during the quarter, compared to analysts’ expectations of $661.73 million. Algonquin Power & Utilities had a return on equity of 5.64% and a net margin of 1.06%. The company’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, research analysts forecast that Algonquin Power & Utilities will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Algonquin Power & Utilities

Large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC grew its stake in Algonquin Power & Utilities by 9.5% in the third quarter. Commonwealth Equity Services LLC now owns 79,789 shares of the utilities provider’s stock valued at $472,000 after purchasing an additional 6,931 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth $70,000. Forsta AP Fonden grew its stake in Algonquin Power & Utilities by 18.8% during the 3rd quarter. Forsta AP Fonden now owns 439,400 shares of the utilities provider’s stock worth $2,613,000 after buying an additional 69,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Algonquin Power & Utilities by 313.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 770,885 shares of the utilities provider’s stock valued at $4,584,000 after buying an additional 584,358 shares during the last quarter. Finally, Value Partners Investments Inc. purchased a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $72,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.