Canadian Imperial Bank of Commerce Issues Positive Forecast for Algonquin Power & Utilities (NYSE:AQN) Stock Price

Algonquin Power & Utilities (NYSE:AQN) had its price objective boosted by Canadian Imperial Bank of Commerce from $6.25 to $6.50 in a research note released on Monday, Marketbeat reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Several other brokerages have also issued reports on AQN. Raymond James Financial raised Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and raised their target price for the company from $6.50 to $7.25 in a research report on Monday, March 9th. TD Cowen decreased their target price on Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Wall Street Zen lowered Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research lowered Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Barclays started coverage on Algonquin Power & Utilities in a research report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.68.

Algonquin Power & Utilities Trading Down 1.3%

Shares of Algonquin Power & Utilities stock opened at $6.30 on Monday. Algonquin Power & Utilities has a 1 year low of $5.16 and a 1 year high of $7.11. The firm has a market cap of $4.84 billion, a PE ratio of 27.37 and a beta of 0.78. The stock has a fifty day moving average price of $6.47 and a 200-day moving average price of $6.23. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.82.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, March 6th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Algonquin Power & Utilities had a return on equity of 5.47% and a net margin of 7.32%.The firm had revenue of $630.70 million during the quarter, compared to analyst estimates of $625.77 million. During the same period last year, the firm posted $0.06 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. Equities research analysts anticipate that Algonquin Power & Utilities will post 0.37 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.065 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 4.1%. Algonquin Power & Utilities’s dividend payout ratio is presently 113.04%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. boosted its stake in Algonquin Power & Utilities by 32.6% in the 4th quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider’s stock worth $502,563,000 after purchasing an additional 20,074,709 shares during the period. Vanguard Group Inc. boosted its stake in Algonquin Power & Utilities by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock worth $211,871,000 after purchasing an additional 711,569 shares during the period. Bank of Montreal Can boosted its stake in Algonquin Power & Utilities by 23.1% in the 4th quarter. Bank of Montreal Can now owns 20,717,144 shares of the utilities provider’s stock worth $127,395,000 after purchasing an additional 3,886,254 shares during the period. Goldman Sachs Group Inc. boosted its stake in Algonquin Power & Utilities by 65.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after purchasing an additional 4,808,539 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Algonquin Power & Utilities in the 4th quarter worth about $74,263,000. Institutional investors 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.