Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $7.44 Consensus PT from Brokerages

Shares of Algonquin Power & Utilities Corp. (NYSE:AQNGet Free Report) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.44.

Several equities research analysts have recently issued reports on the stock. TD Securities lifted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research report on Monday, March 11th. National Bankshares lifted their price target on shares of Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. Desjardins cut their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a research note on Monday, May 13th. StockNews.com upgraded shares of Algonquin Power & Utilities to a “sell” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company lifted their price target on shares of Algonquin Power & Utilities from $8.00 to $8.50 and gave the stock an “overweight” rating in a research note on Monday, May 13th.

Get Our Latest Stock Report on Algonquin Power & Utilities

Algonquin Power & Utilities Stock Performance

Shares of AQN stock opened at $6.31 on Wednesday. The stock has a market capitalization of $4.35 billion, a PE ratio of -12.88 and a beta of 0.64. The firm has a 50 day moving average of $6.30 and a two-hundred day moving average of $6.18. Algonquin Power & Utilities has a 52 week low of $4.90 and a 52 week high of $8.74. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last released its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $737.10 million for the quarter, compared to analysts’ expectations of $813.38 million. Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. Algonquin Power & Utilities’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. On average, research analysts predict that Algonquin Power & Utilities will post 0.44 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.108 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.43 dividend on an annualized basis and a yield of 6.85%. Algonquin Power & Utilities’s dividend payout ratio is presently -87.76%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its holdings in shares of Algonquin Power & Utilities by 8.7% in the third quarter. Assenagon Asset Management S.A. now owns 47,547 shares of the utilities provider’s stock valued at $283,000 after acquiring an additional 3,820 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Algonquin Power & Utilities in the third quarter valued at about $128,000. Jump Financial LLC boosted its holdings in shares of Algonquin Power & Utilities by 1,481.9% in the third quarter. Jump Financial LLC now owns 301,516 shares of the utilities provider’s stock valued at $1,785,000 after acquiring an additional 282,456 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Algonquin Power & Utilities by 642.2% in the third quarter. Quantbot Technologies LP now owns 152,475 shares of the utilities provider’s stock valued at $903,000 after acquiring an additional 131,930 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC boosted its holdings in shares of Algonquin Power & Utilities by 46.1% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 25,688 shares of the utilities provider’s stock valued at $153,000 after acquiring an additional 8,107 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile

(Get Free Report

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.

Read More

Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.