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

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the ten ratings firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.94.

A number of research firms have weighed in on AQN. Scotiabank lifted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Royal Bank of Canada lowered their price target on 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. Finally, National Bankshares reduced their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th.

Algonquin Power & Utilities Stock Up 0.7 %

AQN traded up $0.04 during midday trading on Friday, hitting $5.28. 3,754,099 shares of the company's stock traded hands, compared to its average volume of 7,421,985. 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 company has a market cap of $4.05 billion, a PE ratio of -4.09 and a beta of 0.65. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.79. The stock's fifty day simple moving average is $5.00 and its 200-day simple moving average is $4.79.

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

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 4.93%. Algonquin Power & Utilities's payout ratio is presently -14.44%.

Hedge Funds Weigh In On Algonquin Power & Utilities

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwest & Ethical Investments L.P. boosted its position in shares of Algonquin Power & Utilities by 6.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider's stock worth $223,000 after purchasing an additional 3,096 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Algonquin Power & Utilities by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider's stock valued at $4,141,000 after acquiring an additional 3,656 shares during the period. Quadrant Capital Group LLC grew its holdings in Algonquin Power & Utilities by 40.5% during the fourth quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 5,060 shares during the period. Capstone Investment Advisors LLC increased its stake in Algonquin Power & Utilities by 59.6% in the fourth quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider's stock valued at $76,000 after purchasing an additional 6,370 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Algonquin Power & Utilities by 18.5% in the 4th quarter. Signaturefd LLC now owns 42,383 shares of the utilities provider's stock valued at $189,000 after buying an additional 6,602 shares during the period. 62.28% of the stock is owned by institutional investors.

About Algonquin Power & Utilities

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.