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 rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.31.

A number of analysts have weighed in on the company. Scotiabank upped their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Desjardins upped their target price on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, June 4th. TD Securities upped their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a report on Wednesday, June 4th. National Bankshares lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $6.75 target price on the stock. in a report on Wednesday, June 4th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $6.00 target price (up previously from $5.00) on shares of Algonquin Power & Utilities in a report on Monday, May 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AQN. US Bancorp DE lifted its holdings in Algonquin Power & Utilities by 85.7% during the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock worth $25,000 after buying an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Algonquin Power & Utilities during the 1st quarter worth $31,000. Atria Wealth Solutions Inc. acquired a new position in Algonquin Power & Utilities during the 1st quarter worth $51,000. Sowell Financial Services LLC acquired a new position in Algonquin Power & Utilities during the 1st quarter worth $59,000. Finally, Oakwell Private Wealth Management LLC acquired a new position in Algonquin Power & Utilities during the 1st quarter worth $63,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Down 0.4%

Shares of AQN opened at $6.00 on Monday. Algonquin Power & Utilities has a 12-month low of $4.19 and a 12-month high of $6.36. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -3.87 and a beta of 0.69. The stock’s 50-day moving average price is $5.77 and its 200 day moving average price is $5.23.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $692.40 million for the quarter, compared to analyst estimates of $699.08 million. Algonquin Power & Utilities had a positive return on equity of 4.74% and a negative net margin of 48.78%. During the same period in the prior year, the company posted $0.14 EPS. As a group, research analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Monday, June 30th. Algonquin Power & Utilities’s payout ratio is currently -16.77%.

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.