Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Rating of “Hold” by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has earned a consensus rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $6.23.

Several equities research analysts have recently issued reports on AQN shares. Desjardins decreased their price objective on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a research report on Monday, August 12th. National Bank Financial raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Scotiabank cut their target price on Algonquin Power & Utilities from $6.50 to $5.75 and set a “sector perform” rating on the stock in a research report on Tuesday, August 13th. Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a research note on Thursday, September 5th. They set a “neutral” rating and a $6.00 target price for the company. Finally, Raymond James lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $7.75 to $7.00 in a research note on Monday, August 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AQN. Central Pacific Bank Trust Division acquired a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $54,000. Claro Advisors LLC purchased a new position in shares of Algonquin Power & Utilities in the 2nd quarter valued at approximately $61,000. SeaCrest Wealth Management LLC acquired a new position in shares of Algonquin Power & Utilities in the second quarter valued at approximately $66,000. Verdence Capital Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities during the third quarter worth approximately $61,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Algonquin Power & Utilities during the first quarter worth $76,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Price Performance

AQN stock opened at $4.76 on Friday. The business’s 50-day moving average is $5.26 and its two-hundred day moving average is $5.79. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.78. The firm has a market capitalization of $3.65 billion, a P/E ratio of 29.72 and a beta of 0.66. Algonquin Power & Utilities has a 1 year low of $4.72 and a 1 year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, August 9th. The utilities provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $635.95 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. Analysts anticipate that Algonquin Power & Utilities will post 0.43 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.065 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.26 annualized dividend and a yield of 5.47%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 162.50%.

Algonquin Power & Utilities Company Profile

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.