Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities (TSE:AQN – Free Report) to a hold rating in a research note released on Thursday morning, Zacks.com reports.
Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company cut Algonquin Power & Utilities from a strong-buy rating to a hold rating in a report on Monday, August 12th. National Bank Financial raised Algonquin Power & Utilities from a hold rating to a strong-buy rating in a report on Monday, August 12th. Finally, Raymond James lowered Algonquin Power & Utilities from a moderate buy rating to a hold rating in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of Hold and an average target price of C$6.25.
Read Our Latest Research Report on Algonquin Power & Utilities
Algonquin Power & Utilities Stock Down 0.7 %
Algonquin Power & Utilities (TSE:AQN – Get Free Report) last posted its quarterly earnings results on Friday, August 9th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.11 by C$0.01. The business had revenue of C$819.06 million for the quarter, compared to the consensus estimate of C$851.84 million. Algonquin Power & Utilities had a return on equity of 0.24% and a net margin of 4.70%. On average, research analysts expect that Algonquin Power & Utilities will post 0.642355 earnings per share for the current fiscal year.
Algonquin Power & Utilities Cuts Dividend
The company 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Friday, September 27th. Algonquin Power & Utilities’s payout ratio is 163.64%.
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.
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