Algonquin Power & Utilities (TSE:AQN) Stock Rating Upgraded by Wells Fargo & Company

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

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

Algonquin Power & Utilities Price Performance

Shares of TSE:AQN opened at C$8.19 on Monday. The business’s 50 day simple moving average is C$8.68 and its 200-day simple moving average is C$8.64. The firm has a market capitalization of C$6.30 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32. The company has a debt-to-equity ratio of 143.58, a current ratio of 1.05 and a quick ratio of 0.37. Algonquin Power & Utilities has a 12 month low of C$7.26 and a 12 month high of C$9.69.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings results on Friday, May 8th. The company reported C$0.18 EPS for the quarter. The business 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%. As a group, equities analysts forecast that Algonquin Power & Utilities will post 0.4650555 earnings per share for the current fiscal 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.