Algonquin Power & Utilities (NYSE:AQN) Shares Gap Down Following Weak Earnings

Algonquin Power & Utilities Corp. (NYSE:AQN) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $4.79, but opened at $4.61. Algonquin Power & Utilities shares last traded at $4.47, with a volume of 2,055,085 shares traded.

The utilities provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. National Bankshares cut their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Royal Bank of Canada decreased their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Finally, Scotiabank upped their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a report on Thursday, February 13th. 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 given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of institutional investors have recently modified their holdings of the business. SVB Wealth LLC acquired a new position in Algonquin Power & Utilities in the fourth quarter valued at approximately $49,000. Capstone Investment Advisors LLC acquired a new stake in Algonquin Power & Utilities during the third quarter valued at approximately $58,000. Avantax Advisory Services Inc. bought a new stake in Algonquin Power & Utilities during the fourth quarter worth approximately $58,000. Walleye Capital LLC acquired a new position in Algonquin Power & Utilities in the third quarter worth approximately $59,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Algonquin Power & Utilities in the third quarter valued at $61,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

The company has a market cap of $3.45 billion, a P/E ratio of -3.48 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The company has a fifty day simple moving average of $4.58 and a 200-day simple moving average of $4.87.

Algonquin Power & Utilities Company Profile

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.