Algonquin Power & Utilities Corp. (NYSE:AQN) Receives Consensus Rating of “Hold” from Analysts

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $6.33.

AQN has been the topic of several research reports. CIBC cut their price objective on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Raymond James cut shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $7.75 to $7.00 in a research report on Monday, August 12th. Wells Fargo & Company cut shares of Algonquin Power & Utilities from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $8.50 to $6.00 in a research report on Monday, August 12th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, 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 report on Monday, August 12th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AQN. Parallel Advisors LLC grew its stake in Algonquin Power & Utilities by 76.3% in the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $27,000 after buying an additional 1,882 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at about $54,000. Claro Advisors LLC acquired a new position in Algonquin Power & Utilities in the 2nd quarter valued at about $61,000. SeaCrest Wealth Management LLC acquired a new position in Algonquin Power & Utilities in the 2nd quarter valued at about $66,000. Finally, Larson Financial Group LLC acquired a new position in Algonquin Power & Utilities in the 1st quarter valued at about $76,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Down 1.5 %

Shares of NYSE AQN opened at $5.25 on Tuesday. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -10.71 and a beta of 0.66. Algonquin Power & Utilities has a twelve month low of $4.90 and a twelve month high of $6.79. The company’s fifty day moving average is $5.51 and its 200-day moving average is $5.93. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $635.95 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. Equities research analysts predict that Algonquin Power & Utilities will post 0.43 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.26 annualized dividend and a dividend yield of 4.95%. Algonquin Power & Utilities’s dividend payout ratio is presently -53.06%.

Algonquin Power & Utilities Company Profile

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.