Algonquin Power & Utilities (AQN) Rating Lowered to Sector Perform Overweight at National Bank Financial

Algonquin Power & Utilities (NYSE:AQN) was downgraded by analysts at National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating in a research note issued to investors on Thursday.

AQN has been the topic of several other research reports. Wells Fargo & Co decreased their target price on Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating on the stock in a research note on Monday, August 20th. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Monday, October 15th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus target price of $11.17.

NYSE:AQN traded down $0.17 on Thursday, hitting $10.32. The stock had a trading volume of 225,240 shares, compared to its average volume of 206,109. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.95 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08. Algonquin Power & Utilities has a 52-week low of $9.45 and a 52-week high of $11.34.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Algonquin Power & Utilities had a return on equity of 10.25% and a net margin of 10.92%. The firm had revenue of $366.50 million for the quarter, compared to the consensus estimate of $480.48 million. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Algonquin Power & Utilities will post 0.68 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter worth approximately $174,000. Legal & General Group Plc boosted its holdings in shares of Algonquin Power & Utilities by 94.7% in the 1st quarter. Legal & General Group Plc now owns 160,050 shares of the utilities provider’s stock worth $1,585,000 after purchasing an additional 77,854 shares during the period. LGT Capital Partners LTD. boosted its holdings in shares of Algonquin Power & Utilities by 85.2% in the 2nd quarter. LGT Capital Partners LTD. now owns 1,894,657 shares of the utilities provider’s stock worth $18,296,000 after purchasing an additional 871,369 shares during the period. Chicago Capital LLC purchased a new position in shares of Algonquin Power & Utilities in the 2nd quarter worth approximately $226,000. Finally, Naples Global Advisors LLC boosted its holdings in shares of Algonquin Power & Utilities by 8.1% in the 2nd quarter. Naples Global Advisors LLC now owns 150,530 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 11,300 shares during the period. 42.34% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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