Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.34 Consensus Target Price from Analysts

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $6.3409.

AQN has been the subject of several research analyst reports. Scotiabank boosted their price objective 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. Raymond James Financial boosted their price objective on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 4th. Desjardins boosted their price objective 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. TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, August 11th. Finally, National Bankshares cut shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $6.75 target price for the company. in a research report on Wednesday, June 4th.

Institutional Trading of Algonquin Power & Utilities

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE raised 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 valued at $25,000 after acquiring an additional 2,256 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at $31,000. Atria Wealth Solutions Inc. bought a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at $51,000. Wedbush Securities Inc. bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter valued at $58,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Algonquin Power & Utilities in the 1st quarter valued at $59,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

AQN stock opened at $5.48 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86. The company has a 50 day moving average price of $5.80 and a 200 day moving average price of $5.54. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.24. The stock has a market capitalization of $4.21 billion, a PE ratio of -3.04 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The firm had revenue of $535.59 million during the quarter, compared to analysts’ expectations of $535.64 million. During the same quarter in the previous year, the company posted $0.09 EPS. Analysts forecast that Algonquin Power & Utilities will post 0.38 EPS 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. Shareholders 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 annualized dividend and a dividend yield of 4.7%. Algonquin Power & Utilities’s payout ratio is presently -14.44%.

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.