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

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $6.25.

Several research firms have commented on AQN. Scotiabank dropped their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. CIBC lowered their target price 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. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Janney Montgomery Scott initiated coverage on Algonquin Power & Utilities in a research note on Thursday, September 5th. They set a “neutral” rating and a $6.00 price target for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th.

Hedge Funds Weigh In On Algonquin Power & Utilities

Large investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at approximately $54,000. Claro Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities during the 2nd quarter worth approximately $61,000. Capstone Investment Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the third quarter valued at approximately $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities in the third quarter valued at $59,000. Finally, SeaCrest Wealth Management LLC bought a new position in Algonquin Power & Utilities in the second quarter worth $66,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Price Performance

Shares of NYSE:AQN opened at $4.31 on Friday. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -3.34 and a beta of 0.68. Algonquin Power & Utilities has a 1 year low of $4.29 and a 1 year high of $6.79. 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 business has a fifty day simple moving average of $4.83 and a 200 day simple moving average of $5.40.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business earned $0.11 earnings per share. As a group, sell-side analysts predict that Algonquin Power & Utilities will post 0.39 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is currently -20.16%.

About Algonquin Power & Utilities

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.