Shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.19 and last traded at $4.20, with a volume of 495929 shares. The stock had previously closed at $4.29.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. CIBC dropped their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price target on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Wells Fargo & Company lowered their price target on 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. Scotiabank lowered their price target on Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities has a consensus rating of "Hold" and a consensus price target of $6.13.
View Our Latest Research Report on AQN
Algonquin Power & Utilities Stock Performance
The stock's 50-day moving average price is $4.64 and its 200-day moving average price is $5.22. 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 capitalization of $3.30 billion, a price-to-earnings ratio of -3.33 and a beta of 0.69.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The company's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current year.
Algonquin Power & Utilities Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 6.05%. Algonquin Power & Utilities's payout ratio is currently -20.16%.
Institutional Trading of Algonquin Power & Utilities
Several hedge funds and other institutional investors have recently bought and sold shares of AQN. Central Pacific Bank Trust Division acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at $54,000. Capstone Investment Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at $59,000. Verdence Capital Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at $61,000. Finally, Raymond James Trust N.A. lifted its holdings in shares of Algonquin Power & Utilities by 33.4% during 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 in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.
Algonquin Power & Utilities Company Profile
(
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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