Algonquin Power & Utilities Corp. (NYSE:AQN – Get Free Report) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.06.
A number of research analysts have recently commented on AQN shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Wednesday, July 10th. CIBC boosted their price target on Algonquin Power & Utilities from $7.50 to $7.70 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Wells Fargo & Company boosted their price target on Algonquin Power & Utilities from $8.00 to $8.50 and gave the company an “overweight” rating in a report on Monday, May 13th. StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a report on Friday, May 10th. Finally, Scotiabank lowered their price target on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a report on Monday, April 22nd.
Read Our Latest Stock Analysis on Algonquin Power & Utilities
Institutional Trading of Algonquin Power & Utilities
A number of hedge funds have recently bought and sold shares of AQN. Parallel Advisors LLC lifted its holdings in shares of Algonquin Power & Utilities by 76.3% during the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 1,882 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $64,000. Claro Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities during the 2nd quarter valued at $61,000. Seven Mile Advisory purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $67,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.
Algonquin Power & Utilities Trading Down 12.6 %
AQN opened at $5.41 on Monday. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of -11.04 and a beta of 0.66. The stock’s 50 day moving average price is $6.02 and its 200-day moving average price is $6.10. Algonquin Power & Utilities has a one year low of $4.90 and a one year high of $7.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.79 and a current ratio of 0.98.
Algonquin Power & Utilities (NYSE:AQN – Get Free Report) 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. The firm had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $635.95 million. Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. On average, equities analysts forecast that Algonquin Power & Utilities will post 0.46 EPS for the current year.
Algonquin Power & Utilities Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Monday, September 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.81%. Algonquin Power & Utilities’s dividend payout ratio is currently -53.06%.
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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