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

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has been given a consensus recommendation of "Hold" by the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.31.

AQN has been the subject of several research analyst reports. Raymond James Financial raised their price target on Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a "market perform" rating in a report on Wednesday, June 4th. Desjardins raised their target price on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. Scotiabank upped their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. National Bank Financial raised shares of Algonquin Power & Utilities to a "hold" rating in a research note on Sunday, June 8th. Finally, TD Securities upped their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "hold" rating in a research report on Wednesday, June 4th.

Institutional Trading of Algonquin Power & Utilities

Several institutional investors have recently added to or reduced their stakes in the company. Starboard Value LP raised its holdings in shares of Algonquin Power & Utilities by 5.1% in the fourth quarter. Starboard Value LP now owns 65,316,000 shares of the utilities provider's stock worth $290,656,000 after buying an additional 3,175,000 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Algonquin Power & Utilities by 84.9% during the first quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider's stock valued at $216,868,000 after purchasing an additional 19,392,805 shares during the period. FIL Ltd grew its holdings in shares of Algonquin Power & Utilities by 85.6% in the fourth quarter. FIL Ltd now owns 40,886,793 shares of the utilities provider's stock worth $181,473,000 after purchasing an additional 18,857,515 shares during the last quarter. Vanguard Group Inc. increased its stake in Algonquin Power & Utilities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 31,715,401 shares of the utilities provider's stock worth $162,859,000 after buying an additional 204,473 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Algonquin Power & Utilities by 0.6% during the 4th quarter. Bank of Montreal Can now owns 21,000,723 shares of the utilities provider's stock valued at $93,090,000 after buying an additional 117,757 shares in the last quarter. Institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Price Performance

Shares of NYSE:AQN opened at $5.70 on Thursday. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -3.68 and a beta of 0.69. The firm has a fifty day moving average price of $5.63 and a 200 day moving average price of $5.05. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.94 and a current ratio of 1.16.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $692.40 million for the quarter, compared to analysts' expectations of $699.08 million. Algonquin Power & Utilities had a negative net margin of 48.78% and a positive return on equity of 4.74%. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, sell-side analysts expect that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Monday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.56%. Algonquin Power & Utilities's payout ratio is -16.77%.

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.

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