Algonquin Power & Utilities (NYSE:AQN) Upgraded at TD Securities

TD Securities upgraded shares of Algonquin Power & Utilities (NYSE:AQN) to a hold rating in a report released on Monday,Zacks.com reports.

A number of other research firms also recently commented on AQN. Desjardins boosted their price target on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, June 4th. Scotiabank boosted their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. Wall Street Zen downgraded shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Finally, CIBC increased their target price on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.31.

Algonquin Power & Utilities Trading Up 1.2%

Shares of NYSE:AQN opened at $5.83 on Monday. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.24. The company has a market cap of $4.48 billion, a PE ratio of -3.24 and a beta of 0.67. The company’s 50-day moving average price is $5.84 and its 200 day moving average price is $5.35. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 1.22.

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

Algonquin Power & Utilities Announces Dividend

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

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AQN. US Bancorp DE boosted its position in shares of Algonquin Power & Utilities by 85.7% in the first 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 during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Algonquin Power & Utilities in the first quarter worth $31,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Algonquin Power & Utilities in the first quarter worth $51,000. Wedbush Securities Inc. acquired a new stake in shares of Algonquin Power & Utilities in the second quarter worth $58,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at $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.