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

Key Points

• Analyst sentiment is mixed but positive: Algonquin Power & Utilities has a consensus rating of “Moderate Buy” from 12 analysts, with six buys and six holds. The average 12-month price target is about $6.81.
• Shares are trading below recent highs: The stock opened at $5.67, near its 12-month low of $5.32 and below its 12-month high of $7.11. Its market cap is $4.36 billion, and institutional investors hold about 62.28% of the shares.
• Recent results and dividend remain important: The company beat quarterly earnings expectations with $0.13 EPS versus $0.11 expected and announced a quarterly dividend of $0.065 per share, implying a 4.6% annualized yield. However, the payout ratio is high at 118.18%.

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has received an average recommendation of "Moderate Buy" from the twelve analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.8056.

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Algonquin Power & Utilities from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. National Bank Financial reduced their price objective on Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating for the company in a report on Friday, July 3rd. Barclays initiated coverage on Algonquin Power & Utilities in a research report on Wednesday, April 1st. They issued an "overweight" rating and a $7.00 target price for the company. Weiss Ratings upgraded Algonquin Power & Utilities from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, April 21st. Finally, Canadian Imperial Bank of Commerce lifted their price objective on Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a "neutral" rating in a report on Monday, April 20th.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of hedge funds and other institutional investors have recently bought and sold shares of AQN. Wedge Capital Management L L P NC boosted its holdings in shares of Algonquin Power & Utilities by 68.1% in the second quarter. Wedge Capital Management L L P NC now owns 705,453 shares of the utilities provider's stock worth $4,134,000 after acquiring an additional 285,672 shares during the period. Bank of America Corp DE boosted its stake in Algonquin Power & Utilities by 31.4% in the 1st quarter. Bank of America Corp DE now owns 3,556,090 shares of the utilities provider's stock worth $21,834,000 after purchasing an additional 849,241 shares during the period. Anson Funds Management LP purchased a new position in Algonquin Power & Utilities during the 1st quarter valued at about $3,061,000. Amundi grew its holdings in Algonquin Power & Utilities by 87.7% during the 1st quarter. Amundi now owns 155,335 shares of the utilities provider's stock valued at $954,000 after buying an additional 72,588 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Algonquin Power & Utilities by 0.4% during the first quarter. The Manufacturers Life Insurance Company now owns 4,465,539 shares of the utilities provider's stock valued at $27,403,000 after buying an additional 18,044 shares during the period. Institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Stock Performance

AQN stock opened at $5.67 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.26. The firm has a market cap of $4.36 billion, a PE ratio of 25.75 and a beta of 0.71. The business has a 50 day moving average of $5.90 and a 200-day moving average of $6.24. Algonquin Power & Utilities has a 12-month low of $5.32 and a 12-month high of $7.11.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.The business had revenue of $713.69 million for the quarter, compared to analysts' expectations of $713.69 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, sell-side analysts expect that Algonquin Power & Utilities will post 0.36 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, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, June 30th. Algonquin Power & Utilities's dividend payout ratio is presently 118.18%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp NYSE: AQN is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company's renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.

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