Morgan Stanley Stick to Their Hold Rating for Algonquin Power & Utilities By Investing.com

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Morgan Stanley Stick to Their Hold Rating for Algonquin Power & Utilities

Oct 05, 2020 12:33PM ET

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Morgan Stanley (NYSE:MS) analyst Stephen Byrd maintained a Hold rating on Algonquin Power & Utilities (NYSE:AQN) on Monday, setting a price target of $16, which is approximately 8.40% above the present share price of $14.76.

Byrd expects Algonquin Power & Utilities to post earnings per share (EPS) of $0.54 for the fourth quarter of 2020.

The current consensus among 7 TipRanks analysts is for a Moderate Buy rating of shares in Algonquin Power & Utilities, with an average price target of $15.04.
The analysts price targets range from a high of $15.81 to a low of $13.18.

In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $343.64 million and a net profit of $36.75 million. The company's market cap is $8.74 billion.

According to TipRanks.com, Morgan Stanley analyst Stephen Byrd is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 2.9% and a 54.80% success rate.

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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