RBC Capital analyst Nelson Ng maintained a Hold rating on Algonquin Power & Utilities (AQN – Research Report) on January 29 and set a price target of $7.00. The company’s shares closed yesterday at $6.07.
According to TipRanks, Ng is a 4-star analyst with an average return of 8.9% and a 60.29% success rate. Ng covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Northland Power, and Algonquin Power & Utilities.
Currently, the analyst consensus on Algonquin Power & Utilities is a Moderate Buy with an average price target of $6.80, representing a 12.03% upside. In a report released on January 26, Bank of America Securities also reiterated a Hold rating on the stock with a $6.00 price target.
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AQN market cap is currently $4.18B and has a P/E ratio of -17.46.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AQN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Algonquin Power & Utilities (AQN) Company Description:
Algonquin Power & Utilities Corp. is a diversified utility company, which through its subsidiaries, engages in the ownership and operation of a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. It focuses on delivering reliable earnings, cash flow, and dividend growth through strategic acquisitions and operational excellence. The company was founded on August 1, 1988 and is headquartered in Oakville, Canada.
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