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

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned an average rating of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $6.25.

Several equities research analysts recently weighed in on the company. CIBC decreased their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Wells Fargo & Company cut their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Janney Montgomery Scott began 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 objective for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday.

Institutional Investors Weigh In On Algonquin Power & Utilities

Several hedge funds have recently modified their holdings of AQN. Central Pacific Bank Trust Division acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at $54,000. Capstone Investment Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth about $58,000. Walleye Capital LLC purchased a new position in Algonquin Power & Utilities during the third quarter worth about $59,000. Claro Advisors LLC acquired a new stake in Algonquin Power & Utilities in the second quarter valued at about $61,000. Finally, Verdence Capital Advisors LLC purchased a new stake in Algonquin Power & Utilities in the 3rd quarter valued at approximately $61,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at $4.47 on Friday. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -3.47 and a beta of 0.68. The firm’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $5.44. Algonquin Power & Utilities has a twelve month low of $4.42 and a twelve month high of $6.79. 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 (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $573.20 million during the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities analysts forecast that Algonquin Power & Utilities will post 0.39 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s 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.