Raymond James Financial Boosts Algonquin Power & Utilities (AQN) Price Target to C$16.50

Algonquin Power & Utilities (TSE:AQN) had its price objective raised by research analysts at Raymond James Financial from C$16.00 to C$16.50 in a note issued to investors on Wednesday, March 14th. The brokerage presently has a “strong-buy” rating on the stock. Raymond James Financial’s target price indicates a potential upside of 30.43% from the company’s current price.

Several other brokerages have also recently issued reports on AQN. National Bank Financial boosted their price target on Algonquin Power & Utilities from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research note on Thursday, November 16th. BMO Capital Markets reiterated an “outperform” rating and issued a C$16.00 price target on shares of Algonquin Power & Utilities in a research note on Wednesday, December 6th. Finally, TD Securities cut their price target on Algonquin Power & Utilities from C$16.00 to C$15.50 and set a “buy” rating for the company in a research note on Monday, March 5th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of C$15.63.

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TSE AQN traded down C$0.09 during trading on Wednesday, reaching C$12.65. 657,061 shares of the company’s stock were exchanged, compared to its average volume of 1,220,527. Algonquin Power & Utilities has a fifty-two week low of C$12.51 and a fifty-two week high of C$14.40.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings data on Thursday, March 1st. The company reported C$0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.15 by C$0.05. Algonquin Power & Utilities had a return on equity of 8.59% and a net margin of 11.03%. The company had revenue of C$523.40 million during the quarter, compared to analysts’ expectations of C$529.23 million.

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Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates regulated and non-regulated generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

Analyst Recommendations for Algonquin Power & Utilities (TSE:AQN)

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