Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.41 Average PT from Brokerages

Shares of Algonquin Power & Utilities Corp. (NYSE:AQNGet Free Report) have been given a consensus rating of “Hold” by the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $6.4091.

Several brokerages have weighed in on AQN. TD Securities raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Monday, August 11th. Wall Street Zen raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Algonquin Power & Utilities in a report on Wednesday, October 8th. Finally, Desjardins lifted their price target on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a report on Thursday, October 9th.

Check Out Our Latest Analysis on Algonquin Power & Utilities

Institutional Investors Weigh In On Algonquin Power & Utilities

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Sector Pension Investment Board increased its holdings in shares of Algonquin Power & Utilities by 2.5% during the second quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock valued at $424,000 after acquiring an additional 1,800 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Algonquin Power & Utilities by 16.3% during the first quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 2,073 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Algonquin Power & Utilities by 10.6% during the second quarter. Ballentine Partners LLC now owns 23,484 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 2,242 shares in the last quarter. US Bancorp DE increased its holdings in shares of Algonquin Power & Utilities by 85.7% during the first 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Algonquin Power & Utilities by 5.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,834 shares of the utilities provider’s stock worth $583,000 after buying an additional 5,693 shares during the period. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Up 0.7%

Shares of Algonquin Power & Utilities stock opened at $5.83 on Friday. The company’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $5.62. The stock has a market capitalization of $4.48 billion, a PE ratio of -3.24 and a beta of 0.72. Algonquin Power & Utilities has a 1-year low of $4.19 and a 1-year high of $6.24. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last issued its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $535.59 million for the quarter, compared to analysts’ expectations of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same quarter last year, the company posted $0.09 EPS. As a group, equities analysts anticipate that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $0.26 annualized dividend and a yield of 4.5%. Algonquin Power & Utilities’s payout ratio is currently -14.44%.

Algonquin Power & Utilities Company Profile

(Get Free Report)

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.

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

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