Algonquin Power & Utilities' (AQN) "Neutral" Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Algonquin Power & Utilities (NYSE:AQN - Free Report) in a research report released on Thursday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $7.00 target price on the utilities provider's stock.

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

Algonquin Power & Utilities Stock Down 0.4 %

Algonquin Power & Utilities stock traded down $0.02 during midday trading on Thursday, reaching $4.53. The company's stock had a trading volume of 8,406,866 shares, compared to its average volume of 5,575,165. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The stock has a market capitalization of $3.48 billion, a P/E ratio of -3.52 and a beta of 0.68. The stock's 50-day simple moving average is $4.90 and its 200-day simple moving average is $5.46. Algonquin Power & Utilities has a 52-week low of $4.43 and a 52-week high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $573.20 million during the quarter, compared to analysts' expectations of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. On average, sell-side analysts expect that Algonquin Power & Utilities will post 0.39 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.74%. Algonquin Power & Utilities's payout ratio is -20.15%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Several hedge funds have recently modified their holdings of AQN. The Manufacturers Life Insurance Company increased its stake in shares of Algonquin Power & Utilities by 320.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,273,228 shares of the utilities provider's stock valued at $42,633,000 after purchasing an additional 5,544,063 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Algonquin Power & Utilities by 156.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider's stock valued at $52,341,000 after buying an additional 5,426,523 shares in the last quarter. Private Management Group Inc. acquired a new stake in Algonquin Power & Utilities in the 3rd quarter valued at $12,361,000. Yaupon Capital Management LP purchased a new stake in Algonquin Power & Utilities in the 3rd quarter worth $11,997,000. Finally, Davidson Kempner Capital Management LP increased its holdings in Algonquin Power & Utilities by 79.8% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 4,634,250 shares of the utilities provider's stock worth $27,157,000 after acquiring an additional 2,056,534 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

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.