BMO Capital Markets restated their outperform rating on shares of Algonquin Power & Utilities (TSE:AQN) in a research report released on Wednesday. BMO Capital Markets currently has a C$16.00 price target on the stock.
Other research analysts also recently issued reports about the company. CIBC lifted their price target on Algonquin Power & Utilities from C$15.50 to C$16.00 in a report on Monday, November 13th. Desjardins lifted their price target on Algonquin Power & Utilities from C$15.25 to C$16.00 in a report on Monday, November 13th. TD Securities lifted their price target on Algonquin Power & Utilities from C$15.00 to C$16.00 in a report on Tuesday, October 24th. National Bank Financial boosted their target price on Algonquin Power & Utilities from C$15.50 to C$16.00 and gave the stock an outperform rating in a research note on Thursday, November 16th. Finally, Royal Bank Of Canada boosted their target price on Algonquin Power & Utilities from C$14.00 to C$15.00 and gave the stock an outperform rating in a research note on Monday, November 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of C$15.33.
Shares of Algonquin Power & Utilities (AQN) traded up C$0.17 during trading hours on Wednesday, hitting C$14.08. The stock had a trading volume of 655,560 shares, compared to its average volume of 1,037,764. Algonquin Power & Utilities has a twelve month low of C$10.93 and a twelve month high of C$14.40.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Thursday, December 28th. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.12. Algonquin Power & Utilities’s payout ratio is 123.12%.
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About Algonquin Power & Utilities
Algonquin Power & Utilities Corp. (APUC) is a Canada-based company engaged in owning and operating a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. APUC’s operations are organized across three business units consisting of Generation, Transmission and Distribution.
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