RBC Capital Keeps Their Hold Rating on Algonquin Power & Utilities (AQN)

RBC Capital analyst Nelson Ng maintained a Hold rating on Algonquin Power & Utilities yesterday and set a price target of $6.50.

Claim 55% Off TipRanks

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
• Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

According to TipRanks, Ng is a 5-star analyst with an average return of 11.4% and a 62.71% success rate. Ng covers the Utilities sector, focusing on stocks such as Superior Plus, Brookfield Renewable Partners, and Algonquin Power & Utilities.

In addition to RBC Capital, Algonquin Power & Utilities also received a Hold from CIBC’s Mark Jarvi in a report issued on April 20. However, on the same day, Barclays maintained a Buy rating on Algonquin Power & Utilities (NYSE: AQN).

Based on Algonquin Power & Utilities’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$637.15 million and a net profit of C$21.32 million. In comparison, last year the company earned a revenue of C$584.84 million and had a GAAP net loss of C$186.42 million

Based on the recent corporate insider activity of 9 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.