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

Algonquin Power & Utilities Corp. (NYSE:AQNGet Rating) has received an average rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $16.63.

A number of equities analysts have recently commented on AQN shares. StockNews.com started coverage on shares of Algonquin Power & Utilities in a report on Thursday, March 31st. They issued a “sell” rating on the stock. National Bank Financial cut shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective on the stock. in a research note on Wednesday. Raymond James set a $20.00 target price on shares of Algonquin Power & Utilities and gave the stock an “outperform” rating in a research report on Friday, March 4th. National Bankshares downgraded Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective for the company. in a research report on Wednesday. Finally, Zacks Investment Research downgraded shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Thursday.

NYSE AQN opened at $13.78 on Friday. The firm has a 50 day simple moving average of $15.13 and a 200-day simple moving average of $14.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.56 and a current ratio of 0.69. Algonquin Power & Utilities has a one year low of $13.39 and a one year high of $16.26. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 2.34 and a beta of 0.43.

Algonquin Power & Utilities (NYSE:AQNGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $594.80 million during the quarter, compared to the consensus estimate of $594.36 million. Algonquin Power & Utilities had a net margin of 11.59% and a return on equity of 6.97%. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Equities analysts predict that Algonquin Power & Utilities will post 0.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were given a $0.1706 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $0.68 annualized dividend and a dividend yield of 4.95%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 170.00%.

A number of institutional investors have recently added to or reduced their stakes in AQN. Steward Partners Investment Advisory LLC increased its position in Algonquin Power & Utilities by 34.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,991 shares of the utilities provider’s stock worth $304,000 after purchasing an additional 5,400 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Algonquin Power & Utilities by 2.8% in the 3rd quarter. Bank of Nova Scotia now owns 8,735,745 shares of the utilities provider’s stock worth $128,054,000 after acquiring an additional 235,792 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Algonquin Power & Utilities by 16.0% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 99,330 shares of the utilities provider’s stock worth $1,457,000 after acquiring an additional 13,706 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Algonquin Power & Utilities by 12.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 123,656 shares of the utilities provider’s stock worth $1,787,000 after acquiring an additional 14,114 shares during the period. Finally, Shell Asset Management Co. lifted its position in shares of Algonquin Power & Utilities by 20.3% during the 4th quarter. Shell Asset Management Co. now owns 382,165 shares of the utilities provider’s stock worth $5,527,000 after buying an additional 64,400 shares during the period. Hedge funds and other institutional investors own 45.25% of the company’s stock.

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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