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

Key Points

• Algonquin Power & Utilities Corp. has received an average recommendation of "Hold" from twelve ratings firms, with a consensus target price of $6.31.
• Recent changes in institutional investor positions include an 84.9% increase in stake by EdgePoint Investment Group and a new position worth $51.4 million by Southpoint Capital Advisors.
• The company reported $0.14 earnings per share for the last quarter, surpassing the consensus estimate of $0.09, despite a negative net margin of 48.78%.

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has been assigned an average recommendation of "Hold" from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.31.

AQN has been the subject of a number of research analyst reports. Scotiabank upped their price objective 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 upgraded Algonquin Power & Utilities to a "hold" rating in a report on Sunday, June 8th. Raymond James Financial increased their target price on Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a "market perform" rating in a research note on Wednesday, June 4th. CIBC increased their target price 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. Finally, Wall Street Zen cut Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AQN. US Bancorp DE boosted its position in shares of Algonquin Power & Utilities by 85.7% in the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 2,256 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Algonquin Power & Utilities during the 1st quarter worth about $31,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $51,000. Sowell Financial Services LLC purchased a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $59,000. Finally, NBC Securities Inc. raised its stake in shares of Algonquin Power & Utilities by 111,700.0% during the 1st quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider's stock worth $63,000 after purchasing an additional 12,287 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Price Performance

Shares of Algonquin Power & Utilities stock traded down $0.04 on Monday, hitting $5.93. The company's stock had a trading volume of 3,051,180 shares, compared to its average volume of 10,782,076. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.36. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.21. The firm has a fifty day moving average price of $5.79 and a 200-day moving average price of $5.25. The company has a market capitalization of $4.55 billion, a P/E ratio of -3.82 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $692.40 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.14 EPS. On average, equities research analysts expect that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio (DPR) 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.