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

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 earned an average recommendation of "Hold" from the eleven analysts that are presently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $6.3409.

Several research analysts recently issued reports on AQN shares. Raymond James Financial upped their target price on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 4th. National Bankshares lowered shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 target price for the company. in a research report on Wednesday, June 4th. CIBC upped their price target on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada 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 report on Wednesday, June 4th. Finally, 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 report on Wednesday, June 4th.

Algonquin Power & Utilities Price Performance

Shares of AQN traded down $0.01 during mid-day trading on Tuesday, reaching $5.47. 7,217,624 shares of the stock traded hands, compared to its average volume of 3,505,003. The firm has a fifty day moving average price of $5.79 and a 200 day moving average price of $5.54. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -3.04 and a beta of 0.69. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.24.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. The firm had revenue of $535.59 million during the quarter, compared to analyst estimates of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same period in the previous year, the business earned $0.09 EPS. As a group, equities research analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, September 29th. Algonquin Power & Utilities's dividend payout ratio is presently -14.44%.

Institutional Trading of Algonquin Power & Utilities

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

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.