Scotiabank Believes Algonquin Power & Util (TSX: AQN) Still Has Room to Grow

By Carrie Williams

Algonquin Power & Util (TSX: AQN), the Utilities sector company, has received a rating update from a Wall Street analyst today. Analyst Robert Hope from Scotiabank remains bullish on the stock and has a C$15.50 price target.

Hope has an average return of 21.5% when recommending Algonquin Power & Util.

According to TipRanks.com, Hope is ranked #897 out of 4570 analysts.

Algonquin Power & Util has an analyst consensus of Strong Buy, with a price target consensus of C$14.94.

The company has a one year high of C$14.35 and a one year low of C$10.47. Currently, Algonquin Power & Util has an average volume of 884.4K.

Algonquin Power & Utilities Corp. is a North American based renewable energy and regulated utility company. The company through its subsidiaries, Algonquin Power Co. and Liberty Utilities acquires and operates green energy assets including hydroelectric, wind, thermal and solar power facilities and utility distribution businesses. Algonquin Power & Utilities was founded on August 1, 1988 and is headquartered in Oakville, Canada.

The company’s shares closed last Monday at $14.05, close to its 52-week high of $14.35.