Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.31 Average PT from Brokerages

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have received a consensus recommendation of “Hold” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold rating. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.31.

A number of analysts recently commented on AQN shares. Wall Street Zen downgraded shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. National Bank Financial upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Sunday, June 8th. National Bankshares lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $6.75 price target on the stock. in a report on Wednesday, June 4th. Raymond James Financial boosted their price target on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, June 4th. Finally, Scotiabank boosted their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “sector perform” rating in a report on Wednesday, June 4th.

Algonquin Power & Utilities Stock Up 1.8%

NYSE AQN opened at $5.80 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.16 and a quick ratio of 0.94. The company’s 50 day simple moving average is $5.65 and its 200 day simple moving average is $5.08. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.36. The company has a market capitalization of $4.45 billion, a P/E ratio of -3.74 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Algonquin Power & Utilities had a negative net margin of 48.78% and a positive return on equity of 4.74%. The business had revenue of $692.40 million for the quarter, compared to the consensus estimate of $699.08 million. During the same period in the previous year, the firm earned $0.14 EPS. Equities research analysts expect that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities’s payout ratio is presently -16.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE grew its position in Algonquin Power & Utilities by 85.7% during the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Algonquin Power & Utilities during the first quarter valued at approximately $31,000. Atria Wealth Solutions Inc. purchased a new position in Algonquin Power & Utilities during the first quarter valued at approximately $51,000. SVB Wealth LLC purchased a new position in Algonquin Power & Utilities during the fourth quarter valued at approximately $49,000. Finally, Sowell Financial Services LLC purchased a new position in Algonquin Power & Utilities during the first quarter valued at approximately $59,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

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.