Algonquin Power & Utilities Corp (NYSE:AQN) Given Average Rating of “Buy” by Brokerages

Shares of Algonquin Power & Utilities Corp (NYSE:AQN) have been given an average recommendation of “Buy” by the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.06.

A number of analysts have issued reports on the company. CIBC reaffirmed an “average” rating and set a $13.50 price target on shares of Algonquin Power & Utilities in a report on Monday, August 12th. National Bank Financial lifted their price target on Algonquin Power & Utilities from $12.00 to $12.50 and gave the stock a “sector perform” rating in a report on Friday, June 21st. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Securities boosted their target price on Algonquin Power & Utilities from $14.00 to $14.50 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, ValuEngine downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.

Several institutional investors have recently bought and sold shares of the company. Prudential PLC acquired a new position in Algonquin Power & Utilities during the 2nd quarter worth approximately $509,000. Royal Bank of Canada increased its position in Algonquin Power & Utilities by 3.0% during the 2nd quarter. Royal Bank of Canada now owns 26,281,502 shares of the utilities provider’s stock worth $318,268,000 after purchasing an additional 775,818 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Algonquin Power & Utilities by 1,049.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,957 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in Algonquin Power & Utilities by 306.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 55,349 shares of the utilities provider’s stock worth $670,000 after purchasing an additional 41,741 shares during the period. Finally, Summit Global Investments acquired a new position in Algonquin Power & Utilities during the 2nd quarter worth approximately $749,000. 46.86% of the stock is owned by institutional investors and hedge funds.

NYSE AQN traded down $0.02 during trading on Monday, reaching $12.88. 425,700 shares of the company’s stock were exchanged, compared to its average volume of 299,940. The stock has a market cap of $6.40 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.10 and a current ratio of 1.03. The company has a 50 day moving average price of $12.54 and a two-hundred day moving average price of $11.72. Algonquin Power & Utilities has a 1 year low of $9.63 and a 1 year high of $13.07.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The business had revenue of $343.58 million for the quarter, compared to analysts’ expectations of $372.40 million. Algonquin Power & Utilities had a return on equity of 7.57% and a net margin of 21.46%. Research analysts forecast that Algonquin Power & Utilities will post 0.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.142 dividend. This represents a $0.57 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, September 27th. Algonquin Power & Utilities’s payout ratio is currently 84.85%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

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