Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.22, but opened at $6.06. Algonquin Power & Utilities shares last traded at $6.02, with a volume of 2,575,564 shares traded.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. BMO Capital Markets restated a "market perform" rating and set a $6.00 target price (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Scotiabank raised their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday. National Bankshares lowered shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target for the company. in a research report on Wednesday. Desjardins upped their target price on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a report on Wednesday. Finally, CIBC lifted their target price on Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.31.
Read Our Latest Stock Analysis on Algonquin Power & Utilities
Algonquin Power & Utilities Stock Performance
The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The company has a market cap of $4.49 billion, a PE ratio of -4.53 and a beta of 0.67. The business has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $4.91.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $692.40 million for the quarter, compared to the consensus estimate of $699.08 million. During the same quarter last year, the company earned $0.14 earnings per share. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.
Algonquin Power & Utilities Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 payout ratio is currently -15.48%.
Institutional Investors Weigh In On Algonquin Power & Utilities
Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Algonquin Power & Utilities by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 2,073 shares in the last quarter. US Bancorp DE boosted its holdings in Algonquin Power & Utilities by 85.7% in the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock worth $25,000 after acquiring an additional 2,256 shares in the last quarter. Northwest & Ethical Investments L.P. grew its stake in shares of Algonquin Power & Utilities by 6.6% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider's stock worth $223,000 after acquiring an additional 3,096 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Algonquin Power & Utilities by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider's stock valued at $4,141,000 after acquiring an additional 3,656 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Algonquin Power & Utilities by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 5,060 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.
About Algonquin Power & Utilities
(
Get Free Report)
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.
Recommended Stories
Before you consider Algonquin Power & Utilities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Algonquin Power & Utilities wasn't on the list.
While Algonquin Power & Utilities currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
