Algonquin Power & Utilities (NYSE:AQN) Downgraded to Sector Perform Rating by National Bankshares

National Bankshares downgraded shares of Algonquin Power & Utilities (NYSE:AQN - Free Report) from an outperform rating to a sector perform rating in a report published on Wednesday morning,BayStreet.CA reports. They currently have $6.75 price objective on the utilities provider's stock.

AQN has been the topic of a number of other reports. BMO Capital Markets reissued a "market perform" rating and issued a $6.00 price target (up from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Scotiabank lifted 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 report on Wednesday. Royal Bank of Canada lifted 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 report on Wednesday. CIBC lifted their price objective on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a report on Wednesday. Finally, National Bank Financial cut shares of 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. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $6.31.

Algonquin Power & Utilities Trading Down 1.3%

Shares of Algonquin Power & Utilities stock traded down $0.08 on Wednesday, reaching $5.85. The company had a trading volume of 14,983,607 shares, compared to its average volume of 8,544,605. The firm's 50 day moving average price is $5.36 and its two-hundred day moving average price is $4.92. The firm has a market cap of $4.49 billion, a PE ratio of -4.53 and a beta of 0.67. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly 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 business had revenue of $692.40 million for the quarter, compared to the consensus estimate of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same period in the previous year, the firm earned $0.14 EPS. Sell-side analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio is presently -15.48%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Algonquin Power & Utilities by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider's stock valued at $139,845,000 after purchasing an additional 544,198 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Algonquin Power & Utilities by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,303,614 shares of the utilities provider's stock valued at $10,219,000 after purchasing an additional 92,373 shares during the last quarter. Barclays PLC increased its position in shares of Algonquin Power & Utilities by 33.2% in the 3rd quarter. Barclays PLC now owns 829,508 shares of the utilities provider's stock valued at $4,522,000 after purchasing an additional 206,603 shares during the last quarter. Alberta Investment Management Corp increased its position in shares of Algonquin Power & Utilities by 8.7% in the 4th quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider's stock valued at $22,458,000 after purchasing an additional 402,500 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $990,000. 62.28% of the stock is 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.