Algonquin Power & Utilities Corp. (NYSE:AQN) Receives Consensus Rating of “Hold” from Analysts

Algonquin Power & Utilities Corp. (NYSE:AQN) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $6.18.

Several equities research analysts have issued reports on the stock. Raymond James lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $7.75 to $7.00 in a report on Monday, August 12th. Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a research note on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price objective on the stock. Finally, National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th.

Algonquin Power & Utilities Stock Down 1.9 %

AQN stock opened at $4.76 on Wednesday. Algonquin Power & Utilities has a twelve month low of $4.67 and a twelve month high of $6.79. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.65 billion, a PE ratio of -3.69 and a beta of 0.68. The business’s 50-day simple moving average is $5.07 and its 200 day simple moving average is $5.61.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate 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%. Algonquin Power & Utilities’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. On average, research analysts anticipate that Algonquin Power & Utilities will post 0.4 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.46%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -20.16%.

Hedge Funds Weigh In On Algonquin Power & Utilities

Institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division acquired a new stake in shares of Algonquin Power & Utilities in the third quarter valued at approximately $54,000. Capstone Investment Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the third quarter worth $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter valued at $59,000. Claro Advisors LLC bought a new position in Algonquin Power & Utilities in the second quarter valued at about $61,000. Finally, Verdence Capital Advisors LLC acquired a new stake in Algonquin Power & Utilities in the third quarter worth about $61,000. 62.28% of the stock is owned by institutional investors.

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.