Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Rating of “Hold” by Analysts

Algonquin Power & Utilities Corp. (NYSE:AQN) has earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $5.94.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. National Bankshares dropped their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Scotiabank boosted their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th.

Algonquin Power & Utilities Stock Up 0.7 %

Shares of Algonquin Power & Utilities stock opened at $5.15 on Tuesday. The business has a 50-day moving average price of $4.71 and a 200 day moving average price of $4.83. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. The firm has a market cap of $3.95 billion, a P/E ratio of -3.99 and a beta of 0.71. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. On average, sell-side analysts forecast that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, March 31st. Algonquin Power & Utilities’s payout ratio is currently -14.44%.

Institutional Trading of Algonquin Power & Utilities

Several institutional investors have recently modified their holdings of AQN. SVB Wealth LLC bought a new stake in Algonquin Power & Utilities in the fourth quarter worth about $49,000. Capstone Investment Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth approximately $58,000. Avantax Advisory Services Inc. acquired a new stake in Algonquin Power & Utilities during the fourth quarter valued at approximately $58,000. Walleye Capital LLC bought a new stake in Algonquin Power & Utilities during the third quarter worth approximately $59,000. Finally, Ballentine Partners LLC acquired a new position in Algonquin Power & Utilities in the fourth quarter worth approximately $63,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.