Analysts Set Algonquin Power & Utilities Corp. (NYSE:AQN) Price Target at $5.94

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Eight 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 brokerages that have covered the stock in the last year is $5.94.

AQN has been the subject of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. National Bankshares cut their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Scotiabank upped their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of hedge funds and other institutional investors have recently modified their holdings of AQN. SVB Wealth LLC purchased a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at about $49,000. Capstone Investment Advisors LLC bought a new position in Algonquin Power & Utilities during the third quarter valued at approximately $58,000. Avantax Advisory Services Inc. purchased a new position in shares of Algonquin Power & Utilities during the fourth quarter worth approximately $58,000. Walleye Capital LLC bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth approximately $59,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at $63,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $5.18 on Tuesday. The firm has a market capitalization of $3.97 billion, a P/E ratio of -4.01 and a beta of 0.71. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The business has a fifty day moving average price of $4.76 and a 200-day moving average price of $4.84.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $584.80 million during the quarter, compared to the consensus estimate of $644.73 million. As a group, equities research analysts forecast that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

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 given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.02%. Algonquin Power & Utilities’s payout ratio is -14.44%.

About Algonquin Power & Utilities

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.