Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Recommendation of "Hold" by Analysts

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) have been given a consensus rating of "Hold" by the eleven analysts that are covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.18.

Several research analysts recently commented on the company. CIBC reduced their price target 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. Desjardins cut their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "hold" rating for the company in a research note 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. Finally, Scotiabank dropped their price target on Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating on the stock in a research note on Friday, November 8th.

Algonquin Power & Utilities Stock Down 1.6 %

AQN traded down $0.08 during trading on Wednesday, hitting $4.72. The company had a trading volume of 4,840,521 shares, compared to its average volume of 5,615,098. The firm's 50-day moving average price is $5.11 and its 200 day moving average price is $5.66. The company has a market capitalization of $3.62 billion, a PE ratio of -3.66 and a beta of 0.68. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a one year low of $4.67 and a one year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The firm 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%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. As a group, equities analysts expect that Algonquin Power & Utilities will post 0.4 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is -20.15%.

Hedge Funds Weigh In On Algonquin Power & Utilities

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Algonquin Power & Utilities by 320.6% during the second quarter. The Manufacturers Life Insurance Company now owns 7,273,228 shares of the utilities provider's stock valued at $42,633,000 after acquiring an additional 5,544,063 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in 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 worth $52,341,000 after purchasing an additional 5,426,523 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Algonquin Power & Utilities by 851.0% in the 1st quarter. Jane Street Group LLC now owns 3,765,026 shares of the utilities provider's stock worth $23,797,000 after purchasing an additional 3,369,124 shares during the period. Private Management Group Inc. bought a new position in Algonquin Power & Utilities during the third quarter worth $12,361,000. Finally, Yaupon Capital Management LP acquired a new stake in Algonquin Power & Utilities during the 3rd quarter worth about $11,997,000. Institutional investors and hedge funds own 62.28% of the company's stock.

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.