Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Rating of “Hold” by Analysts

Algonquin Power & Utilities Corp. (NYSE:AQN) has earned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $6.18.

AQN has been the subject of several research analyst reports. Desjardins dropped their price objective on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Scotiabank decreased their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Janney Montgomery Scott assumed coverage on shares of Algonquin Power & Utilities in a research note on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price target for the company.

Institutional Trading of Algonquin Power & Utilities

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 1.0% in the first quarter. Vanguard Group Inc. now owns 26,248,892 shares of the utilities provider’s stock worth $165,893,000 after buying an additional 262,333 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Algonquin Power & Utilities by 5.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,341,745 shares of the utilities provider’s stock worth $8,483,000 after purchasing an additional 74,935 shares during the period. Natixis lifted its position in Algonquin Power & Utilities by 38.7% in the first quarter. Natixis now owns 2,186,526 shares of the utilities provider’s stock valued at $13,823,000 after purchasing an additional 609,812 shares during the last quarter. Carlson Capital L P boosted its stake in shares of Algonquin Power & Utilities by 34.9% during the first quarter. Carlson Capital L P now owns 1,239,992 shares of the utilities provider’s stock valued at $7,837,000 after purchasing an additional 320,631 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of Algonquin Power & Utilities by 5.0% in the first quarter. Advisors Asset Management Inc. now owns 139,213 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 6,642 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Trading Down 0.9 %

Shares of Algonquin Power & Utilities stock opened at $4.78 on Wednesday. The company’s 50-day moving average price is $5.12 and its 200-day moving average price is $5.66. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a 12-month low of $4.67 and a 12-month high of $6.79. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -3.70 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $573.20 million during the quarter, compared to analysts’ expectations of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, equities analysts expect that Algonquin Power & Utilities will post 0.4 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is currently -20.15%.

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.