Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $5.94 Consensus PT from Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has earned a consensus rating of "Hold" from the ten brokerages that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $5.94.

Several research analysts have commented on AQN shares. Scotiabank raised their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. National Bankshares lowered their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada reduced their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AQN. Swiss National Bank lifted its position in shares of Algonquin Power & Utilities by 10.4% during the third quarter. Swiss National Bank now owns 1,433,000 shares of the utilities provider's stock worth $7,843,000 after purchasing an additional 135,400 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Algonquin Power & Utilities by 14.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 163,335 shares of the utilities provider's stock worth $890,000 after buying an additional 20,731 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Algonquin Power & Utilities by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,211,241 shares of the utilities provider's stock worth $12,095,000 after acquiring an additional 206,490 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Algonquin Power & Utilities by 33.4% in 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 during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Algonquin Power & Utilities by 6.0% during the 3rd quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider's stock valued at $115,175,000 after acquiring an additional 1,190,236 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Algonquin Power & Utilities Trading Up 0.5 %

AQN traded up $0.03 on Tuesday, reaching $5.20. 8,019,990 shares of the company's stock were exchanged, compared to its average volume of 6,844,737. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.79. The company's 50 day moving average is $4.78 and its 200-day moving average is $4.84. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -4.03 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). The business had revenue of $584.80 million during the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. Equities analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.065 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 5.00%. Algonquin Power & Utilities's dividend payout ratio is presently -14.44%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.