Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $5.94 Consensus Price Target from Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.94.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. National Bankshares dropped their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada dropped their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Finally, Scotiabank upped their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th.

Algonquin Power & Utilities Stock Performance

NYSE AQN opened at $5.20 on Tuesday. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.79. 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 business’s 50-day moving average price is $4.78 and its 200 day moving average price is $4.83. 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 posted its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business had revenue of $584.80 million during the quarter, compared to analysts’ expectations of $644.73 million. On average, equities research analysts expect that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Monday, March 31st. Algonquin Power & Utilities’s dividend payout ratio is currently -14.44%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Institutional investors and hedge funds have recently bought and sold shares of the business. SVB Wealth LLC bought a new position in shares of Algonquin Power & Utilities during the fourth quarter worth about $49,000. Capstone Investment Advisors LLC acquired a new position in Algonquin Power & Utilities during the third quarter worth about $58,000. Avantax Advisory Services Inc. bought a new stake in Algonquin Power & Utilities during the fourth quarter worth approximately $58,000. Walleye Capital LLC purchased a new stake in shares of Algonquin Power & Utilities during the third quarter valued at $59,000. Finally, Ballentine Partners LLC purchased a new position in shares of Algonquin Power & Utilities in the fourth quarter worth approximately $63,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

About Algonquin Power & Utilities

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.