Raymond James Reaffirms Strong-Buy Rating for Algonquin Power & Utilities (AQN)

Algonquin Power & Utilities (TSE:AQN)‘s stock had its “strong-buy” rating reiterated by equities researchers at Raymond James in a research report issued on Friday, BayStreet.CA reports. They presently have a C$13.00 target price on the stock. Raymond James’ target price would indicate a potential downside of 14.75% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Algonquin Power & Utilities from C$13.00 to C$14.00 in a research report on Monday, March 4th. National Bank Financial increased their price objective on shares of Algonquin Power & Utilities from C$11.00 to C$11.50 and gave the company a “sector perform” rating in a research report on Tuesday, February 19th.

AQN stock opened at C$15.25 on Friday. Algonquin Power & Utilities has a 52 week low of C$12.25 and a 52 week high of C$15.46. The company has a debt-to-equity ratio of 85.14, a current ratio of 0.99 and a quick ratio of 0.59. The firm has a market cap of $7.52 billion and a price-to-earnings ratio of 100.33.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings data on Thursday, February 28th. The company reported C$0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.17 by C$0.02. The business had revenue of C$555.01 million for the quarter, compared to the consensus estimate of C$546.79 million. Research analysts anticipate that Algonquin Power & Utilities will post 0.709999940716639 EPS for the current fiscal year.

In other news, Senior Officer Ian Edward Robertson sold 277,594 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of C$15.00, for a total value of C$4,163,271.53. Following the sale, the insider now owns 1,318,021 shares of the company’s stock, valued at C$19,767,283.55.

About Algonquin Power & Utilities

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. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

Featured Story: How Does the Quiet Period Work?

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.