In a report released on May 12, Nelson Ng from RBC Capital maintained a Hold rating on Algonquin Power & Utilities (AQN – Research Report), with a price target of $9.00. The company’s shares closed yesterday at $8.58.
According to TipRanks, Ng is a 5-star analyst with an average return of 15.4% and a 61.67% success rate.
In addition to RBC Capital, Algonquin Power & Utilities also received a Hold from TD Securities’s Sean Steuart in a report issued on May 12. However, on the same day, Wells Fargo maintained a Buy rating on Algonquin Power & Utilities (NYSE: AQN).
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AQN market cap is currently $5.93B and has a P/E ratio of -135.59.
Based on the recent corporate insider activity of 32 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.
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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.
Read More on AQN:
- Algonquin Power & Utilities Corp. Announces 2023 First Quarter Financial Results
- Algonquin Power & Utilities Corp. Declares Second Quarter 2023 Common Share Dividend of U.S.$0.1085 (C$0.1453), and Declares Second Quarter 2023 Preferred Share Dividends
- AQN Upcoming Earnings Report: What to Expect?
- Algonquin Power up after Reuters says Corvex joins activist peers
- Activist Corvex has built stake in Algonquin Power, Reuters reports
