Algonquin Power & Utilities (TSE:AQN) Lowered to “Hold” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Algonquin Power & Utilities (TSE:AQN) from a strong-buy rating to a hold rating in a research note published on Monday morning, Zacks.com reports.

A number of other research firms have also weighed in on AQN. Desjardins dropped their target price on shares of Algonquin Power & Utilities from C$5.75 to C$5.50 and set a hold rating for the company in a report on Tuesday, April 30th. Raymond James lowered shares of Algonquin Power & Utilities from a moderate buy rating to a hold rating in a report on Monday. Finally, National Bank Financial upgraded shares of Algonquin Power & Utilities from a hold rating to a strong-buy rating in a report on Monday. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities presently has an average rating of Hold and an average price target of C$7.08.

Algonquin Power & Utilities Stock Down 1.0 %

Shares of TSE:AQN opened at C$7.00 on Monday. The stock’s 50-day moving average price is C$8.21 and its 200-day moving average price is C$8.31. Algonquin Power & Utilities has a 12-month low of C$6.75 and a 12-month high of C$10.42. The stock has a market capitalization of C$4.83 billion, a P/E ratio of -10.45, a price-to-earnings-growth ratio of 1.07 and a beta of 0.47. The company has a current ratio of 0.98, a quick ratio of 0.37 and a debt-to-equity ratio of 141.91.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 5.14%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -89.55%.

About Algonquin Power & Utilities

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.