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

Key Points

• Algonquin Power & Utilities Corp. has been assigned a consensus rating of "Hold" by twelve brokerages, with an average target price of $6.3125.
• The company reported $0.04 earnings per share for the latest quarter, matching analyst expectations, despite a negative net margin of 57.66%.
• Algonquin Power & Utilities announced a quarterly dividend of $0.065 per share, representing an annualized yield of 4.5%, set to be paid on October 15th.

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has earned a consensus rating of "Hold" from the twelve research firms that are presently covering the stock, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.3125.

AQN has been the topic of several analyst reports. BMO Capital Markets reiterated a "market perform" rating and set a $6.00 price target (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Raymond James Financial lifted their price target on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. National Bank Financial upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research note on Sunday, June 8th. National Bankshares cut shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target on the stock. in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada lifted their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th.

Algonquin Power & Utilities Stock Up 0.8%

Shares of NYSE AQN traded up $0.05 on Friday, reaching $5.82. 4,280,962 shares of the company's stock traded hands, compared to its average volume of 6,673,379. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -3.23 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. The business's 50 day simple moving average is $5.84 and its two-hundred day simple moving average is $5.45. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.24.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The company had revenue of $535.59 million for the quarter, compared to analysts' expectations of $535.64 million. During the same quarter last year, the company posted $0.09 earnings per share. As a group, equities research analysts forecast that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, September 29th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.5%. Algonquin Power & Utilities's payout ratio is -14.44%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. US Bancorp DE lifted its stake in shares of Algonquin Power & Utilities by 85.7% during the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock valued at $25,000 after buying an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Algonquin Power & Utilities in the 1st quarter valued at $31,000. Atria Wealth Solutions Inc. bought a new stake in Algonquin Power & Utilities in the 1st quarter valued at $51,000. Wedbush Securities Inc. bought a new stake in Algonquin Power & Utilities in the 2nd quarter valued at $58,000. Finally, Sowell Financial Services LLC bought a new stake in Algonquin Power & Utilities in the 1st quarter valued at $59,000. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Company Profile

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.