National Bank Financial Has Lowered Expectations for Algonquin Power & Utilities (NYSE:AQN) Stock Price

Algonquin Power & Utilities (NYSE:AQN) had its price target cut by National Bank Financial from $7.00 to $6.50 in a research note issued on Monday, BayStreet reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. National Bank Financial‘s price target would indicate a potential upside of 14.34% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on AQN. Barclays cut their price target on Algonquin Power & Utilities from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, October 1st. Huntington assumed coverage on shares of Algonquin Power & Utilities in a research note on Monday, September 14th. They issued an “outperform” rating and a $7.00 price objective on the stock. Weiss Ratings cut shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Raymond James Financial reissued an “outperform” rating and issued a $7.00 price objective (down from $7.25) on shares of Algonquin Power & Utilities in a report on Monday. Finally, Canadian Imperial Bank of Commerce cut their target price on shares of Algonquin Power & Utilities from $6.00 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.48.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN traded up $0.17 during midday trading on Monday, hitting $5.68. 4,151,849 shares of the stock traded hands, compared to its average volume of 4,452,304. The firm has a market capitalization of $4.38 billion, a P/E ratio of 27.07 and a beta of 0.73. Algonquin Power & Utilities has a one year low of $4.91 and a one year high of $7.11. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.69 and a current ratio of 0.88. The firm has a 50-day moving average of $5.32 and a two-hundred day moving average of $5.94.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, November 6th. The utilities provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $642.50 million during the quarter, compared to analysts’ expectations of $647.20 million. Algonquin Power & Utilities had a return on equity of 5.57% and a net margin of 6.44%. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. On average, equities analysts forecast that Algonquin Power & Utilities will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Algonquin Power & Utilities by 13.0% during the 1st quarter. Principal Financial Group Inc. now owns 13,633,904 shares of the utilities provider’s stock valued at $83,497,000 after acquiring an additional 1,563,924 shares during the period. Bank of Nova Scotia purchased a new stake in Algonquin Power & Utilities in the 2nd quarter worth approximately $46,703,000. Dimensional Fund Advisors LP increased its holdings in Algonquin Power & Utilities by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,716,896 shares of the utilities provider’s stock worth $47,382,000 after acquiring an additional 144,500 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Algonquin Power & Utilities by 85.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,321,263 shares of the utilities provider’s stock worth $44,861,000 after acquiring an additional 3,376,321 shares during the period. Finally, Private Management Group Inc. raised its stake in Algonquin Power & Utilities by 8.1% during the 3rd quarter. Private Management Group Inc. now owns 6,786,610 shares of the utilities provider’s stock worth $34,137,000 after acquiring an additional 510,797 shares during the period. Institutional investors own 62.28% of the company’s stock.

About Algonquin Power & Utilities