Algonquin Power & Utilities (NYSE:AQN) Rating Increased to Outperform at National Bank Financial

National Bank Financial upgraded shares of Algonquin Power & Utilities (NYSE:AQN) from a sector perform rating to an outperform rating in a research report report published on Wednesday, Marketbeat reports. National Bank Financial currently has $7.50 price target on the utilities provider’s stock.

AQN has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research note on Monday, December 29th. Janney Montgomery Scott set a $7.00 target price on shares of Algonquin Power & Utilities in a report on Monday, November 10th. National Bankshares set a $7.50 price target on shares of Algonquin Power & Utilities in a research report on Wednesday. Wall Street Zen upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Raymond James Financial raised their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.70.

Algonquin Power & Utilities Stock Performance

AQN opened at $6.41 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.23 and a quick ratio of 0.98. The business has a fifty day simple moving average of $6.02 and a 200 day simple moving average of $5.86. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.62. The company has a market capitalization of $4.93 billion, a PE ratio of -160.23 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Algonquin Power & Utilities had a positive return on equity of 5.14% and a negative net margin of 1.11%.The company had revenue of $600.80 million during the quarter, compared to the consensus estimate of $596.67 million. During the same quarter last year, the firm earned $0.08 earnings per share. Research analysts expect that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, December 31st. Algonquin Power & Utilities’s payout ratio is currently -650.00%.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of large investors have recently modified their holdings of the business. EdgePoint Investment Group Inc. lifted its position in shares of Algonquin Power & Utilities by 8.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 61,652,676 shares of the utilities provider’s stock worth $331,292,000 after buying an additional 4,888,235 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Algonquin Power & Utilities by 3.3% in the third quarter. Vanguard Group Inc. now owns 33,744,586 shares of the utilities provider’s stock worth $181,377,000 after acquiring an additional 1,086,040 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Algonquin Power & Utilities by 12.5% in the third quarter. Bank of Montreal Can now owns 16,830,890 shares of the utilities provider’s stock worth $90,441,000 after acquiring an additional 1,863,459 shares during the last quarter. Ariel Investments LLC boosted its stake in shares of Algonquin Power & Utilities by 88.6% in the 2nd quarter. Ariel Investments LLC now owns 13,112,831 shares of the utilities provider’s stock valued at $75,137,000 after purchasing an additional 6,160,490 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after purchasing an additional 4,808,539 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.