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

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have received an average recommendation of “Hold” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.23.

A number of equities research analysts recently weighed in on the stock. Desjardins decreased their price objective on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a report on Monday, August 12th. Raymond James cut Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $7.75 to $7.00 in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed 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. Janney Montgomery Scott initiated coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price target on the stock. Finally, Wells Fargo & Company lowered 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 note on Wednesday, October 16th.

Algonquin Power & Utilities Trading Up 0.7 %

Shares of AQN opened at $4.88 on Friday. Algonquin Power & Utilities has a twelve month low of $4.78 and a twelve month high of $6.79. The company has a current ratio of 0.97, a quick ratio of 0.78 and a debt-to-equity ratio of 1.08. The company’s fifty day simple moving average is $5.28 and its 200-day simple moving average is $5.80. The company has a market cap of $3.74 billion, a P/E ratio of -9.95 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Algonquin Power & Utilities had a return on equity of 5.36% and a net margin of 4.70%. The firm had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $635.95 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, analysts expect that Algonquin Power & Utilities will post 0.43 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 5.33%. The ex-dividend date was Monday, September 30th. Algonquin Power & Utilities’s dividend payout ratio is currently -53.06%.

Institutional Trading of Algonquin Power & Utilities

A number of institutional investors have recently made changes to their positions in AQN. Central Pacific Bank Trust Division purchased a new stake in Algonquin Power & Utilities in the third quarter valued at about $54,000. Claro Advisors LLC acquired a new stake in Algonquin Power & Utilities in the 2nd quarter worth approximately $61,000. SeaCrest Wealth Management LLC purchased a new stake in Algonquin Power & Utilities during the 2nd quarter worth approximately $66,000. Larson Financial Group LLC acquired a new position in Algonquin Power & Utilities during the 1st quarter valued at approximately $76,000. Finally, SVB Wealth LLC acquired a new position in Algonquin Power & Utilities during the 1st quarter valued at approximately $82,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

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.