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

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.25.

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Janney Montgomery Scott initiated coverage on shares of Algonquin Power & Utilities in a report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price target for the company. Wells Fargo & Company decreased their price objective 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. Scotiabank dropped their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, CIBC reduced their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Krilogy Financial LLC raised its stake in shares of Algonquin Power & Utilities by 0.3% during the second quarter. Krilogy Financial LLC now owns 707,000 shares of the utilities provider’s stock worth $4,143,000 after buying an additional 1,800 shares during the last quarter. Private Advisor Group LLC grew its holdings in Algonquin Power & Utilities by 14.1% during the 3rd quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 2,201 shares during the period. Raymond James Trust N.A. grew its holdings in Algonquin Power & Utilities by 33.4% during the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 3,343 shares during the period. Hennessy Advisors Inc. raised its position in shares of Algonquin Power & Utilities by 4.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 108,564 shares of the utilities provider’s stock valued at $636,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in shares of Algonquin Power & Utilities by 12.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 5,158 shares during the period. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $4.31 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The firm has a 50-day moving average price of $4.83 and a 200 day moving average price of $5.40. The firm has a market capitalization of $3.31 billion, a PE ratio of -3.34 and a beta of 0.68. Algonquin Power & Utilities has a 12-month low of $4.29 and a 12-month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $573.20 million during the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Research analysts anticipate that Algonquin Power & Utilities will post 0.39 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 6.03%. Algonquin Power & Utilities’s payout ratio is -20.16%.

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.