Algonquin Power & Utilities Corp. (TSE:AQN) Receives C$6.25 Average Target Price from Analysts

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) have earned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$6.25.

A number of research analysts recently commented on AQN shares. Raymond James downgraded Algonquin Power & Utilities from a “moderate 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 research note on Monday, August 12th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company cut shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th.

Algonquin Power & Utilities Stock Performance

Shares of TSE:AQN opened at C$7.23 on Friday. The firm has a market capitalization of C$5.55 billion, a PE ratio of 32.86, a P/E/G ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. The business has a 50-day moving average of C$7.87 and a two-hundred day moving average of C$8.21. Algonquin Power & Utilities has a 12 month low of C$6.75 and a 12 month high of C$9.90.

Algonquin Power & Utilities (TSE:AQN) last issued its earnings results on Friday, August 9th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.11 by C$0.01. The company had revenue of C$819.06 million during 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%. As a group, research analysts forecast that Algonquin Power & Utilities will post 0.642355 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 4.98%. 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.