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

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have received a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.4091.

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Algonquin Power & Utilities in a report on Wednesday. Desjardins raised their price objective on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the stock a “buy” rating in a report on Thursday. TD Securities raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Monday, August 11th. Finally, Wall Street Zen raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Saturday, October 4th.

Algonquin Power & Utilities Price Performance

NYSE:AQN opened at $5.79 on Friday. The company has a 50-day moving average of $5.69 and a 200-day moving average of $5.61. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of -3.22 and a beta of 0.72. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.24. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $535.59 million during the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same period last year, the firm earned $0.09 EPS. As a group, equities research analysts anticipate that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.065 per share. The ex-dividend date is Monday, September 29th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -14.44%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its position in shares of 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 purchasing an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $31,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $51,000. Wedbush Securities Inc. acquired a new stake in shares of Algonquin Power & Utilities during the 2nd quarter worth about $58,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $59,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

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.