Algonquin Power & Utilities (AQN:NYE) is set to release its quarterly earnings report on Friday, March 17th. Analysts are predicting earnings of $0.19 per share for the quarter.
Algonquin Power Stock Price Analysis:
On Friday, Algonquin Power stock opened at $7.55, which represents a 2.2% decrease from its previous close. The company has a market capitalization of $5.16 billion and a PE ratio of 125.83.
Its 50-day moving average is $7.35, and its 200-day moving average is $9.27. The stock has a 12-month low of $6.41 and a 12-month high of $16.01.
Algonquin Power stock-Analyst Ratings:
Several analysts have recently changed their ratings on the Algonquin Power stock. BMO Capital Markets raised its price target on Algonquin Power & Utilities from C$7.00 to C$7.50 and gave the company a “market perform” rating in a research report. National Bankshares lowered its price target from $13.50 to $12.50 and gave the stock a “sector perform” rating. Wells Fargo & Company raised the stock from an “equal weight” rating to an “overweight” rating and set a $9.00 target price. Desjardins lowered its rating from a “hold” to a “sell” rating.
Hedge Funds & Institutional Investors:
Several hedge funds have recently made changes to their positions in AQN. Vanguard Group Inc. increased its holdings in the company by 3.7% during the third quarter, while Norges Bank acquired a new stake in the company during the fourth quarter.
Legal & General Group Plc increased its holdings by 11.0% during the fourth quarter, while Mackenzie Financial Corp and Invesco Ltd. increased their holdings during the first quarter.
As of now, Algonquin Power stock has an average rating of “Buy” and a consensus price target of $11.18. 41.26% of the AQN stock is owned by institutional investors and hedge funds.
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The company was incorporated in 1988 and is headquartered in Oakville, Canada.