Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Rating of "Hold" by Brokerages

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.

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) have been assigned an average rating of "Hold" from the twelve brokerages that are presently covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $6.3125.

A number of research analysts have commented on the company. Desjardins boosted their price objective on Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a "hold" rating in a research note on Wednesday, June 4th. National Bank Financial upgraded Algonquin Power & Utilities to a "hold" rating in a research note on Sunday, June 8th. National Bankshares cut Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price objective on the stock. in a research note on Wednesday, June 4th. Scotiabank boosted their price objective on 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. Finally, CIBC boosted their price objective on Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th.

Algonquin Power & Utilities Trading Down 0.8%

AQN stock traded down $0.05 during trading on Friday, reaching $5.73. 2,517,590 shares of the stock traded hands, compared to its average volume of 10,324,396. The business's 50 day moving average price is $5.83 and its 200-day moving average price is $5.44. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.24. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86. The firm has a market capitalization of $4.40 billion, a PE ratio of -3.18 and a beta of 0.68.

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

Algonquin Power & Utilities Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Algonquin Power & Utilities in the first quarter valued at about $288,000. Raymond James Financial Inc. bought a new stake in Algonquin Power & Utilities in the fourth quarter valued at about $990,000. Sowell Financial Services LLC acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth approximately $59,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth approximately $51,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Algonquin Power & Utilities by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,782,827 shares of the utilities provider's stock worth $25,734,000 after purchasing an additional 654,006 shares during the period. Institutional investors and hedge funds 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.