Algonquin Power & Utilities (NYSE:AQN) Hits New 52-Week Low – Time to Sell?

Algonquin Power & Utilities Corp. (NYSE:AQN)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $4.19 and last traded at $4.20, with a volume of 495929 shares changing hands. The stock had previously closed at $4.29.

Analysts Set New Price Targets

A number of analysts have weighed in on AQN shares. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. CIBC dropped their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Scotiabank cut their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.13.

Algonquin Power & Utilities Trading Down 1.9 %

The business has a 50 day simple moving average of $4.64 and a 200-day simple moving average of $5.22. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -3.26 and a beta of 0.69.

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). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 6.18%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -20.16%.

Hedge Funds Weigh In On Algonquin Power & Utilities

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Algonquin Power & Utilities during the second quarter valued at $141,000. American Century Companies Inc. lifted its stake in shares of Algonquin Power & Utilities by 173.4% in the 2nd quarter. American Century Companies Inc. now owns 209,546 shares of the utilities provider’s stock worth $1,231,000 after acquiring an additional 132,900 shares during the period. Rock Point Advisors LLC raised its holdings in Algonquin Power & Utilities by 69.7% during the second quarter. Rock Point Advisors LLC now owns 797,539 shares of the utilities provider’s stock worth $4,674,000 after purchasing an additional 327,520 shares in the last quarter. Quantbot Technologies LP raised its position in Algonquin Power & Utilities by 86.1% in the second quarter. Quantbot Technologies LP now owns 707,707 shares of the utilities provider’s stock worth $4,147,000 after acquiring an additional 327,455 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Algonquin Power & Utilities by 12.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 88,019 shares of the utilities provider’s stock valued at $511,000 after acquiring an additional 9,717 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

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.