Algonquin Power & Utilities (NYSE:AQN) Given Neutral Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Algonquin Power & Utilities (NYSE:AQN) in a report published on Thursday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has a $7.00 price objective on the utilities provider’s stock.

AQN has been the subject of a number of other reports. CIBC decreased their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Scotiabank reduced their price objective on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Finally, Janney Montgomery Scott started coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Algonquin Power & Utilities currently has a consensus rating of “Hold” and a consensus target price of $6.25.

Algonquin Power & Utilities Trading Down 0.4 %

NYSE:AQN opened at $4.53 on Thursday. Algonquin Power & Utilities has a 52 week low of $4.42 and a 52 week high of $6.79. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.48 billion, a PE ratio of -3.51 and a beta of 0.68. The business’s 50 day moving average is $4.88 and its two-hundred day moving average is $5.46.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, analysts predict that Algonquin Power & Utilities will post 0.39 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.74%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -20.16%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Several hedge funds and other institutional investors have recently made changes to their positions in AQN. Krilogy Financial LLC raised its position in shares of Algonquin Power & Utilities by 0.3% during the second quarter. Krilogy Financial LLC now owns 707,000 shares of the utilities provider’s stock valued at $4,143,000 after buying an additional 1,800 shares during the last quarter. Private Advisor Group LLC boosted its stake in Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after buying an additional 2,201 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Algonquin Power & Utilities by 33.4% during the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 3,343 shares in the last quarter. Hennessy Advisors Inc. increased its stake in Algonquin Power & Utilities by 4.1% in the second quarter. Hennessy Advisors Inc. now owns 108,564 shares of the utilities provider’s stock valued at $636,000 after acquiring an additional 4,300 shares during the period. Finally, Northwest & Ethical Investments L.P. raised its position in Algonquin Power & Utilities by 12.3% in the third quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 5,158 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.