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

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat reports. Eight 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 1 year price objective among brokers that have issued ratings on the stock in the last year is $5.94.

A number of research analysts have commented on the company. Royal Bank of Canada decreased their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. National Bankshares lowered their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Finally, Scotiabank boosted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th.

Algonquin Power & Utilities Stock Up 0.5 %

Shares of AQN opened at $5.20 on Tuesday. The company’s 50-day moving average price is $4.78 and its 200 day moving average price is $4.83. Algonquin Power & Utilities has a 12-month low of $4.19 and a 12-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. The firm has a market cap of $3.99 billion, a P/E ratio of -4.03 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The company had revenue of $584.80 million during the quarter, compared to analysts’ expectations of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. On average, sell-side analysts forecast that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities’s payout ratio is presently -14.44%.

Institutional Trading of Algonquin Power & Utilities

A number of large investors have recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $49,000. Capstone Investment Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth $58,000. Avantax Advisory Services Inc. purchased a new position in Algonquin Power & Utilities in the fourth quarter valued at $58,000. Walleye Capital LLC acquired a new stake in Algonquin Power & Utilities in the third quarter valued at $59,000. Finally, Ballentine Partners LLC purchased a new stake in Algonquin Power & Utilities during the 4th quarter worth about $63,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

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.