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

Key Points

• Algonquin Power & Utilities Corp. has received a consensus recommendation of "Hold" from eleven brokerages, with an average 12-month target price of $6.34.
• The company recently reported a quarterly dividend of $0.065, with an annualized yield of 4.7% scheduled for payment on October 15th.
• Shares of Algonquin Power & Utilities have a market cap of $4.29 billion and are currently priced at $5.59, reflecting a slight decline of 0.2%.

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $6.3409.

Several equities analysts have recently commented on the company. National Bank Financial raised Algonquin Power & Utilities to a "hold" rating in a report on Sunday, June 8th. Scotiabank upped their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. CIBC upped their target price on Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a report on Wednesday, June 4th. National Bankshares lowered Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price objective for the company. in a report on Wednesday, June 4th. Finally, Raymond James Financial increased their price objective on Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a "market perform" rating in a report on Wednesday, June 4th.

Algonquin Power & Utilities Stock Down 0.2%

Shares of Algonquin Power & Utilities stock opened at $5.59 on Tuesday. The firm has a market cap of $4.29 billion, a P/E ratio of -3.11 and a beta of 0.69. The business has a 50-day moving average price of $5.82 and a 200 day moving average price of $5.53. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.24. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22.

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

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 29th. Algonquin Power & Utilities's dividend payout ratio is -14.44%.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AQN. US Bancorp DE grew its holdings in Algonquin Power & Utilities by 85.7% in the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock worth $25,000 after buying an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Algonquin Power & Utilities in the first quarter worth approximately $31,000. Atria Wealth Solutions Inc. acquired a new stake in Algonquin Power & Utilities in the first quarter worth approximately $51,000. Wedbush Securities Inc. acquired a new stake in Algonquin Power & Utilities in the second quarter worth approximately $58,000. Finally, Sowell Financial Services LLC acquired a new stake in Algonquin Power & Utilities in the first quarter worth approximately $59,000. 62.28% of the stock is owned by institutional investors.

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.

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