Analysts Set Algonquin Power & Utilities Corp. (NYSE:AQN) Target Price at $16.78

Algonquin Power & Utilities Corp. (NYSE:AQNGet Rating) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $16.78.

Several equities analysts have commented on the company. Raymond James set a $20.00 target price on Algonquin Power & Utilities and gave the company an “outperform” rating in a research report on Friday, March 4th. National Bankshares increased their target price on Algonquin Power & Utilities from $15.50 to $16.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. Zacks Investment Research raised Algonquin Power & Utilities from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday. National Bank Financial increased their price target on Algonquin Power & Utilities from $15.50 to $16.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. Finally, StockNews.com assumed coverage on Algonquin Power & Utilities in a research note on Thursday, March 31st. They issued a “sell” rating for the company.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AQN. Wells Fargo & Company MN grew its stake in Algonquin Power & Utilities by 49.6% during the second quarter. Wells Fargo & Company MN now owns 180,876 shares of the utilities provider’s stock worth $2,692,000 after purchasing an additional 59,943 shares during the period. Morgan Stanley grew its stake in Algonquin Power & Utilities by 1.2% in the second quarter. Morgan Stanley now owns 3,524,370 shares of the utilities provider’s stock valued at $52,442,000 after acquiring an additional 42,596 shares during the period. Private Advisor Group LLC acquired a new stake in Algonquin Power & Utilities in the third quarter valued at approximately $162,000. Naples Global Advisors LLC grew its stake in Algonquin Power & Utilities by 4.9% in the third quarter. Naples Global Advisors LLC now owns 215,570 shares of the utilities provider’s stock valued at $3,160,000 after acquiring an additional 10,015 shares during the period. Finally, Phoenix Holdings Ltd. grew its stake in Algonquin Power & Utilities by 103.5% in the third quarter. Phoenix Holdings Ltd. now owns 34,278 shares of the utilities provider’s stock valued at $503,000 after acquiring an additional 17,432 shares during the period. 43.80% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AQN opened at $15.62 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.56. The stock’s fifty day moving average price is $14.91 and its two-hundred day moving average price is $14.48. Algonquin Power & Utilities has a one year low of $13.39 and a one year high of $16.51. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 2.41 and a beta of 0.40.

Algonquin Power & Utilities (NYSE:AQNGet Rating) last announced its quarterly earnings data on Thursday, March 3rd. The utilities provider reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Algonquin Power & Utilities had a return on equity of 6.97% and a net margin of 11.59%. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, equities analysts anticipate that Algonquin Power & Utilities will post 0.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were paid a dividend of $0.1706 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.68 annualized dividend and a yield of 4.37%. Algonquin Power & Utilities’s dividend payout ratio is currently 170.00%.

Algonquin Power & Utilities Company Profile (Get Rating)

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, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.

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

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