Algonquin Power & Utilities (NYSE:AQN) Hits New 12-Month Low - What's Next?

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $4.67 and last traded at $4.68, with a volume of 548922 shares changing hands. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. National Bank Financial upgraded Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a report on Monday, August 12th. Raymond James lowered Algonquin Power & Utilities from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $7.75 to $7.00 in a research report on Monday, August 12th. Desjardins lowered their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a "hold" rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Finally, Scotiabank lowered their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $6.18.

Algonquin Power & Utilities Trading Down 1.1 %

The company has a market cap of $3.59 billion, a price-to-earnings ratio of -3.63 and a beta of 0.68. The company's 50 day moving average price is $4.95 and its 200 day moving average price is $5.50. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

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 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 business had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company's quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.56%. Algonquin Power & Utilities's dividend payout ratio (DPR) is currently -20.15%.

Hedge Funds Weigh In On Algonquin Power & Utilities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new stake in shares of Algonquin Power & Utilities during the 3rd quarter worth $54,000. Capstone Investment Advisors LLC bought a new stake in Algonquin Power & Utilities during the third quarter valued at about $58,000. Walleye Capital LLC acquired a new stake in shares of Algonquin Power & Utilities in the third quarter valued at about $59,000. Claro Advisors LLC acquired a new stake in Algonquin Power & Utilities in the 2nd quarter valued at approximately $61,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth approximately $61,000. Institutional investors and hedge funds own 62.28% of the company's stock.

About Algonquin Power & Utilities

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.