In a report issued on July 17, Nelson Ng from RBC Capital maintained a Buy rating on Algonquin Power & Utilities (AQN), with a price target of $15.00. The company’s shares closed last Friday at $13.80.
According to TipRanks.com, Ng is a 3-star analyst with an average return of 3.2% and a 57.8% 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 Hold with an average price target of $14.00.
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Based on Algonquin Power & Utilities’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $465 million and GAAP net loss of $63.8 million. In comparison, last year the company earned revenue of $477 million and had a net profit of $86.41 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 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.
