Recent Research Analysts’ Ratings Changes for Algonquin Power & Utilities (AQN)

Algonquin Power & Utilities (NYSE: AQN) recently received a number of ratings updates from brokerages and research firms:

  • 5/16/2022 – Algonquin Power & Utilities had its price target lowered by analysts at TD Securities from $17.00 to $16.50. They now have a “buy” rating on the stock.
  • 5/13/2022 – Algonquin Power & Utilities had its price target lowered by analysts at Raymond James from $20.00 to $18.00. They now have an “outperform” rating on the stock.
  • 5/5/2022 – Algonquin Power & Utilities was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “
  • 5/4/2022 – Algonquin Power & Utilities was downgraded by analysts at National Bankshares, Inc. from an “outperform” rating to a “sector perform” rating. They now have a $16.00 price target on the stock.
  • 5/4/2022 – Algonquin Power & Utilities was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating. They now have a $16.00 price target on the stock.
  • 4/12/2022 – Algonquin Power & Utilities was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $18.00 price target on the stock. According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “
  • 3/31/2022 – Algonquin Power & Utilities is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
  • 3/21/2022 – Algonquin Power & Utilities was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “

NYSE:AQN traded up $0.27 during mid-day trading on Tuesday, hitting $14.39. The company had a trading volume of 217,204 shares, compared to its average volume of 2,361,682. The business has a fifty day simple moving average of $15.01 and a 200-day simple moving average of $14.42. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 2.36 and a beta of 0.43. Algonquin Power & Utilities Corp. has a 1 year low of $13.26 and a 1 year high of $16.25. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.81.

Algonquin Power & Utilities (NYSE:AQNGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. Algonquin Power & Utilities had a net margin of 14.33% and a return on equity of 6.99%. The company had revenue of $735.70 million for the quarter, compared to analyst estimates of $709.61 million. During the same quarter last year, the firm posted $0.20 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 10.09%. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, June 29th. Algonquin Power & Utilities’s dividend payout ratio is presently 133.34%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its holdings in shares of Algonquin Power & Utilities by 3.4% in the 4th quarter. Bank of Montreal Can now owns 43,480,508 shares of the utilities provider’s stock valued at $634,501,000 after acquiring an additional 1,422,127 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Algonquin Power & Utilities by 4.4% during the third quarter. Royal Bank of Canada now owns 31,210,845 shares of the utilities provider’s stock worth $457,551,000 after purchasing an additional 1,325,014 shares during the period. Vanguard Group Inc. lifted its position in shares of Algonquin Power & Utilities by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 22,478,377 shares of the utilities provider’s stock worth $348,864,000 after buying an additional 629,817 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Algonquin Power & Utilities by 8.9% in the 1st quarter. Bank of Nova Scotia now owns 10,099,368 shares of the utilities provider’s stock valued at $156,626,000 after buying an additional 828,531 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Algonquin Power & Utilities by 15.1% during the 4th quarter. Legal & General Group Plc now owns 9,345,262 shares of the utilities provider’s stock valued at $135,171,000 after buying an additional 1,225,827 shares during the last quarter. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

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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