Morgan Stanley Reaffirms Their Hold Rating on Algonquin Power & Utilities (AQN)


In a report released today, Stephen Byrd from Morgan Stanley maintained a Hold rating on Algonquin Power & Utilities (AQN), with a price target of $15.00. The company’s shares closed last Friday at $13.81.

According to TipRanks.com, Byrd is a 4-star analyst with an average return of 3.9% and a 58.0% success rate. Byrd covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and South Jersey Industries.

The word on The Street in general, suggests a Hold analyst consensus rating for Algonquin Power & Utilities with a $14.17 average price target.

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The company has a one-year high of $16.85 and a one-year low of $9.53. Currently, Algonquin Power & Utilities has an average volume of 790K.

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.

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