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

Algonquin Power & Utilities Corp. (NYSE:AQN) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.18.

Several equities analysts have weighed in on AQN shares. Raymond James cut Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $7.75 to $7.00 in a research note on Monday, August 12th. CIBC dropped their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Finally, Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 target price for the company.

Institutional Investors Weigh In On Algonquin Power & Utilities

Several large investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC boosted its position in 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 purchasing an additional 1,800 shares during the period. Private Advisor Group LLC boosted its holdings in Algonquin Power & Utilities by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after buying an additional 2,201 shares during the period. Raymond James Trust N.A. grew its stake in Algonquin Power & Utilities by 33.4% in the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after buying an additional 3,343 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in 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 period. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of Algonquin Power & Utilities by 12.3% during the third quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 5,158 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Down 0.9 %

Algonquin Power & Utilities stock opened at $4.78 on Wednesday. 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’s fifty day moving average price is $5.12 and its two-hundred day moving average price is $5.66. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -3.70 and a beta of 0.68. Algonquin Power & Utilities has a 1-year low of $4.67 and a 1-year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts predict that Algonquin Power & Utilities will post 0.4 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.45%. Algonquin Power & Utilities’s payout ratio is presently -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.