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

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has received a consensus rating of "Hold" from the twelve research firms that are presently covering the stock, Marketbeat reports. Twelve investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.31.

Several equities analysts have recently issued reports on AQN shares. National Bankshares lowered 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. CIBC upped their price target on Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Desjardins upped their price target on Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. TD Securities increased their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "hold" rating in a research note on Wednesday, June 4th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $6.00 target price (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th.

Institutional Investors Weigh In On Algonquin Power & Utilities

Hedge funds have recently modified their holdings of the business. US Bancorp DE raised its position in shares of Algonquin Power & Utilities by 85.7% during the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock worth $25,000 after purchasing an additional 2,256 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Algonquin Power & Utilities during the first quarter worth about $31,000. SVB Wealth LLC acquired a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth about $49,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Algonquin Power & Utilities during the first quarter worth about $51,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of Algonquin Power & Utilities during the fourth quarter worth about $58,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Algonquin Power & Utilities Price Performance

Shares of AQN stock traded up $0.10 during trading hours on Thursday, hitting $5.80. 5,310,096 shares of the company's stock were exchanged, compared to its average volume of 8,702,718. The stock's 50-day moving average is $5.65 and its 200-day moving average is $5.08. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.16 and a quick ratio of 0.94. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of -3.74 and a beta of 0.69. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.36.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its 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. Algonquin Power & Utilities had a positive return on equity of 4.74% and a negative net margin of 48.78%. The company had revenue of $692.40 million for the quarter, compared to analysts' expectations of $699.08 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. As a group, research analysts forecast that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio is currently -16.77%.

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.