Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $5.94 Average Target Price from Brokerages

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have received an average rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.94.

AQN has been the subject of a number of research analyst reports. Scotiabank boosted their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. National Bankshares dropped their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada decreased their target price 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.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of hedge funds have recently added to or reduced their stakes in AQN. SVB Wealth LLC acquired a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at $49,000. Avantax Advisory Services Inc. acquired a new stake in Algonquin Power & Utilities in the 4th quarter valued at $58,000. Sowell Financial Services LLC bought a new stake in Algonquin Power & Utilities during the 1st quarter valued at $59,000. Ballentine Partners LLC acquired a new position in shares of Algonquin Power & Utilities during the fourth quarter valued at about $63,000. Finally, NBC Securities Inc. raised its holdings in shares of Algonquin Power & Utilities by 111,700.0% in the 1st quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 12,287 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN opened at $5.32 on Friday. The stock’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $4.78. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -4.12 and a beta of 0.65. 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.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. On average, equities analysts forecast that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Monday, March 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -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.