Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $4.71 and last traded at $4.73, with a volume of 28532 shares changing hands. The stock had previously closed at $4.74.
Analyst Ratings Changes
Several analysts recently weighed in on AQN shares. Scotiabank decreased their target price on Algonquin Power & Utilities from $6.50 to $5.75 and set a "sector perform" rating for the company in a research note on Tuesday, August 13th. Desjardins cut their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a "hold" rating for the company in a research report on Monday, August 12th. National Bank Financial upgraded Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 12th. Royal Bank of Canada restated a "sector perform" rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Finally, Wells Fargo & Company cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.23.
View Our Latest Research Report on AQN
Algonquin Power & Utilities Price Performance
The company has a 50 day moving average price of $5.24 and a 200 day moving average price of $5.77. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 29.75 and a beta of 0.68. The company has a current ratio of 0.97, a quick ratio of 0.78 and a debt-to-equity ratio of 1.08.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its earnings results on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $598.60 million during the quarter, compared to analysts' expectations of $635.95 million. Algonquin Power & Utilities had a return on equity of 5.36% and a net margin of 4.70%. The business's revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. As a group, equities research analysts forecast that Algonquin Power & Utilities Corp. will post 0.43 earnings per share for the current year.
Algonquin Power & Utilities Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.065 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.26 annualized dividend and a dividend yield of 5.42%. Algonquin Power & Utilities's dividend payout ratio is currently 162.50%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in AQN. Central Pacific Bank Trust Division bought a new position in Algonquin Power & Utilities during the third quarter worth about $54,000. Claro Advisors LLC bought a new position in Algonquin Power & Utilities during the second quarter worth about $61,000. Verdence Capital Advisors LLC bought a new position in Algonquin Power & Utilities during the third quarter worth about $61,000. SeaCrest Wealth Management LLC bought a new position in Algonquin Power & Utilities during the second quarter worth about $66,000. Finally, Larson Financial Group LLC bought a new position in Algonquin Power & Utilities during the first quarter worth about $76,000. 62.28% of the stock is currently owned by institutional investors.
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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