National Bankshares Lowers Algonquin Power & Utilities (NYSE:AQN) Price Target to $6.25

Algonquin Power & Utilities (NYSE:AQN) had its target price reduced by National Bankshares from $6.75 to $6.25 in a research report released on Tuesday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the utilities provider’s stock.

Several other brokerages have also commented on AQN. CIBC decreased their target price on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Scotiabank decreased their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.05.

Algonquin Power & Utilities Price Performance

Shares of NYSE AQN opened at $4.81 on Tuesday. The firm has a market capitalization of $3.69 billion, a P/E ratio of -3.72 and a beta of 0.69. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.79. The company’s fifty day moving average is $4.47 and its two-hundred day moving average is $4.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank raised its stake in Algonquin Power & Utilities by 10.4% in the 3rd quarter. Swiss National Bank now owns 1,433,000 shares of the utilities provider’s stock valued at $7,843,000 after purchasing an additional 135,400 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Algonquin Power & Utilities by 6.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider’s stock valued at $42,105,000 after purchasing an additional 447,246 shares during the last quarter. Krilogy Financial LLC raised its stake in Algonquin Power & Utilities by 116.7% in the 4th quarter. Krilogy Financial LLC now owns 1,621,045 shares of the utilities provider’s stock valued at $7,214,000 after purchasing an additional 873,045 shares during the last quarter. Foundry Partners LLC acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at about $7,173,000. Finally, CWA Asset Management Group LLC acquired a new position in Algonquin Power & Utilities in the 4th quarter valued at about $905,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.