After Desjardins and CIBC gave Algonquin Power & Utilities Corp (NYSE: AQN) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Nelson Ng maintained a Buy rating on Algonquin Power & Utilities Corp yesterday and set a price target of $13. The company’s shares closed yesterday at $12.90, close to its 52-week high of $13.06.
Ng has an average return of 13.6% when recommending Algonquin Power & Utilities Corp.
According to TipRanks.com, Ng is ranked #638 out of 5234 analysts.
Algonquin Power & Utilities Corp has an analyst consensus of Strong Buy, with a price target consensus of $13.50, which is a 4.7% upside from current levels. In a report issued on July 29, Desjardins also reiterated a Buy rating on the stock with a $14 price target.
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Algonquin Power & Utilities Corp’s market cap is currently $6.36B and has a P/E ratio of 18.72. The company has a Price to Book ratio of 2.01.
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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.
