Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $4.41 and last traded at $4.42, with a volume of 2746044 shares traded. The stock had previously closed at $4.46.
Analyst Ratings Changes
A number of research firms have recently weighed in on AQN. Wells Fargo & Company cut their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada restated a "sector perform" rating and set a $6.00 price target on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Scotiabank decreased their price objective on Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a "neutral" rating and a $6.00 price objective for the company. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $6.25.
View Our Latest Research Report on Algonquin Power & Utilities
Algonquin Power & Utilities Price Performance
The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -3.35 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The company's 50 day moving average is $4.84 and its 200 day moving average is $5.41.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results 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 firm had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current fiscal year.
Algonquin Power & Utilities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 6.02%. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -20.16%.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC increased its position in Algonquin Power & Utilities by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider's stock valued at $97,000 after acquiring an additional 2,201 shares during the period. Raymond James Trust N.A. raised its stake in shares of 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 worth $73,000 after purchasing an additional 3,343 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Algonquin Power & Utilities by 4.1% during the second quarter. Hennessy Advisors Inc. now owns 108,564 shares of the utilities provider's stock worth $636,000 after purchasing an additional 4,300 shares during the period. Northwest & Ethical Investments L.P. grew its position in Algonquin Power & Utilities by 12.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider's stock valued at $258,000 after buying an additional 5,158 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Algonquin Power & Utilities by 25.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider's stock valued at $179,000 after buying an additional 5,863 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.
About Algonquin Power & Utilities
(
Get Free Report)
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.
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