Algonquin Power & Utilities Corp. (NYSE:AQN) Given Consensus Rating of "Hold" by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has been assigned a consensus rating of "Hold" from the eleven analysts that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.13.

Several brokerages recently issued reports on AQN. Royal Bank of Canada restated a "sector perform" rating and set a $6.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $7.00 price target on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Scotiabank reduced their price objective on Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. CIBC dropped their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Wednesday, October 16th.

Institutional Investors Weigh In On Algonquin Power & Utilities

Institutional investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth about $54,000. Capstone Investment Advisors LLC acquired a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $58,000. Walleye Capital LLC purchased a new position in Algonquin Power & Utilities in the third quarter valued at approximately $59,000. Verdence Capital Advisors LLC purchased a new position in Algonquin Power & Utilities in the third quarter valued at approximately $61,000. Finally, Raymond James Trust N.A. lifted its position in Algonquin Power & Utilities by 33.4% during the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider's stock valued at $73,000 after buying an additional 3,343 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock traded up $0.02 during trading hours on Thursday, hitting $4.47. The stock had a trading volume of 10,149,970 shares, compared to its average volume of 7,831,790. Algonquin Power & Utilities has a 1-year low of $4.25 and a 1-year high of $6.79. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -3.47 and a beta of 0.69. The stock's fifty day moving average is $4.66 and its two-hundred day moving average is $5.25. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73.

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

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.82%. Algonquin Power & Utilities's payout ratio is currently -20.16%.

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.