RBC Capital analyst Nelson Ng maintained a Buy rating on Algonquin Power & Utilities (AQN) yesterday and set a price target of $15.00. The company’s shares closed last Tuesday at $13.47.
According to TipRanks.com, Ng is a 3-star analyst with an average return of 1.8% and a 56.1% success rate. Ng covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Just Energy Group, and Northland Power.
Currently, the analyst consensus on Algonquin Power & Utilities is a Moderate Buy with an average price target of $14.27.
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Based on Algonquin Power & Utilities’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $439 million and net profit of $172 million. In comparison, last year the company earned revenue of $422 million and had a net profit of $44 million.
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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.
