Algonquin Power & Utilities Corp. (TSE:AQN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Algonquin Power & Utilities Corp. (TSE:AQNGet Rating) has been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the company, reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$20.00.

AQN has been the subject of several recent analyst reports. National Bank Financial downgraded Algonquin Power & Utilities from an “outperfrom under weight” rating to a “sector perform under weight” rating in a research note on Tuesday, May 3rd. National Bankshares cut Algonquin Power & Utilities to a “hold” rating in a report on Wednesday, May 4th.

In related news, Senior Officer Jennifer Sara Tindale sold 7,500 shares of Algonquin Power & Utilities stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of C$18.58, for a total transaction of C$139,350.00. Following the completion of the transaction, the insider now directly owns 31,507 shares in the company, valued at C$585,400.06.

Shares of TSE:AQN opened at C$17.19 on Thursday. The stock has a 50 day moving average of C$18.31 and a 200 day moving average of C$18.34. The company has a market cap of C$11.61 billion and a PE ratio of 25.28. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 95.39. Algonquin Power & Utilities has a 12-month low of C$16.75 and a 12-month high of C$20.19.

Algonquin Power & Utilities (TSE:AQNGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported C$0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.29 by C($0.02). The company had revenue of C$931.93 million during the quarter, compared to the consensus estimate of C$974.36 million. Equities research analysts predict that Algonquin Power & Utilities will post 1.0409152 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.467 per share. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.21. This represents a $1.87 annualized dividend and a yield of 10.87%. The ex-dividend date is Wednesday, June 29th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 100.35%.

About Algonquin Power & Utilities (Get Rating)

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.

Further Reading

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

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