Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $5.94 Consensus PT from Analysts

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned a consensus rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $5.94.

A number of analysts have commented on the company. National Bankshares decreased their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Scotiabank upped their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Royal Bank of Canada dropped their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th.

Algonquin Power & Utilities Stock Performance

NYSE AQN opened at $5.18 on Tuesday. The company has a market cap of $3.97 billion, a P/E ratio of -4.01 and a beta of 0.71. The company has a fifty day simple moving average of $4.76 and a 200 day simple moving average of $4.84. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a 12-month low of $4.19 and a 12-month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The business had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. Sell-side analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.02%. Algonquin Power & Utilities’s payout ratio is currently -14.44%.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several institutional investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the third quarter valued at $58,000. Walleye Capital LLC purchased a new stake in Algonquin Power & Utilities in the 3rd quarter worth about $59,000. SVB Wealth LLC bought a new stake in Algonquin Power & Utilities in the 4th quarter valued at about $49,000. Avantax Advisory Services Inc. purchased a new stake in Algonquin Power & Utilities during the fourth quarter valued at about $58,000. Finally, Raymond James Trust N.A. lifted its holdings in 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 valued at $73,000 after purchasing an additional 3,343 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.