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

Algonquin Power & Utilities (NYSE:AQN) had its price objective cut by National Bankshares from $6.75 to $6.25 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have an outperform rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, CIBC lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.05.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $4.81 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $4.47 and a two-hundred day simple moving average of $4.96. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -3.72 and a beta of 0.69. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.79.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of hedge funds have recently modified their holdings of AQN. Wedge Capital Management L L P NC purchased a new position in shares of Algonquin Power & Utilities during the third quarter worth approximately $3,586,000. Bfsg LLC purchased a new position in shares of Algonquin Power & Utilities during the third quarter worth approximately $119,000. Private Advisor Group LLC grew its position in shares of Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 2,201 shares during the last quarter. Private Management Group Inc. purchased a new position in Algonquin Power & Utilities in the 3rd quarter valued at $12,361,000. Finally, Van ECK Associates Corp purchased a new position in Algonquin Power & Utilities in the 3rd quarter valued at $1,058,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

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.