Algonquin Power & Utilities (NYSE:AQN – Get Rating) had its target price lifted by Credit Suisse Group from $10.75 to $11.00 in a research note published on Friday, Benzinga reports. Credit Suisse Group currently has an outperform rating on the utilities provider's stock.

Several other equities research analysts also recently weighed in on the company. BMO Capital Markets downgraded Algonquin Power & Utilities from an outperform rating to a market perform rating and cut their price target for the stock from $17.50 to $11.00 in a research report on Monday, November 14th. Royal Bank of Canada downgraded shares of Algonquin Power & Utilities from an outperform rating to a sector perform rating and decreased their price objective for the stock from $17.00 to $12.00 in a research report on Monday, November 14th. Desjardins downgraded shares of Algonquin Power & Utilities from a buy rating to a hold rating in a report on Monday, November 14th. National Bank Financial cut Algonquin Power & Utilities from an outperform rating to a sector perform rating in a research report on Monday, November 14th. Finally, TheStreet lowered shares of Algonquin Power & Utilities from a c rating to a d+ rating in a research report on Friday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities currently has an average rating of Hold and a consensus price target of $11.91.

Algonquin Power & Utilities Trading Down 5.2 %

Shares of Algonquin Power & Utilities stock opened at $6.89 on Friday. The firm's 50 day simple moving average is $9.07 and its two-hundred day simple moving average is $11.93. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 3.53 and a beta of 0.44. Algonquin Power & Utilities has a 12-month low of $6.81 and a 12-month high of $16.01. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 1.10.

Algonquin Power & Utilities Increases Dividend

Institutional Trading of Algonquin Power & Utilities

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Algonquin Power & Utilities by 3.7% during the third quarter. Vanguard Group Inc. now owns 23,806,124 shares of the utilities provider's stock worth $259,726,000 after buying an additional 856,114 shares during the period. TD Asset Management Inc. grew its position in shares of Algonquin Power & Utilities by 0.4% in the third quarter. TD Asset Management Inc. now owns 16,266,941 shares of the utilities provider's stock valued at $179,815,000 after purchasing an additional 69,607 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Algonquin Power & Utilities by 34.2% in the second quarter. Bank of Nova Scotia now owns 13,548,918 shares of the utilities provider's stock valued at $182,094,000 after purchasing an additional 3,449,550 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Algonquin Power & Utilities by 10.6% in the third quarter. Toronto Dominion Bank now owns 12,249,606 shares of the utilities provider's stock worth $171,714,000 after acquiring an additional 1,170,031 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Algonquin Power & Utilities by 10.4% in the second quarter. Mackenzie Financial Corp now owns 6,988,386 shares of the utilities provider's stock valued at $93,924,000 after buying an additional 657,139 shares during the last quarter. 39.99% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

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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 Regulated Services Group segment operates a portfolio of rate-regulated utilities located in the United States, Canada, Chile, and Bermuda.

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