Algonquin Power & Utilities (NYSE:AQN) Hits New 52-Week High at $14.65

Algonquin Power & Utilities Corp (NYSE:AQN)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $14.65 and last traded at $14.63, with a volume of 17822 shares changing hands. The stock had previously closed at $14.53.

Several equities analysts have commented on AQN shares. Howard Weil cut Algonquin Power & Utilities from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 4th. CIBC set a $14.30 price target on Algonquin Power & Utilities and gave the company a “buy” rating in a report on Tuesday, October 15th. Raymond James set a $16.00 price target on Algonquin Power & Utilities and gave the company a “strong-buy” rating in a report on Thursday, November 21st. TD Securities upped their price target on Algonquin Power & Utilities from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Scotiabank cut Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.76.

The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 1.08. The stock has a fifty day moving average price of $14.16 and a 200-day moving average price of $13.44. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.83 and a beta of 0.57.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $365.60 million during the quarter, compared to analysts’ expectations of $405.41 million. Algonquin Power & Utilities had a return on equity of 7.92% and a net margin of 25.08%. Algonquin Power & Utilities’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. On average, equities analysts expect that Algonquin Power & Utilities Corp will post 0.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.141 per share. The ex-dividend date was Monday, December 30th. This represents a $0.56 dividend on an annualized basis and a yield of 3.86%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 84.85%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp grew its position in Algonquin Power & Utilities by 4.3% during the 3rd quarter. Stifel Financial Corp now owns 51,695 shares of the utilities provider’s stock worth $702,000 after acquiring an additional 2,136 shares during the last quarter. MML Investors Services LLC boosted its position in shares of Algonquin Power & Utilities by 21.9% in the 2nd quarter. MML Investors Services LLC now owns 19,587 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 3,513 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Algonquin Power & Utilities by 1,049.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,957 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Algonquin Power & Utilities by 32.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,048 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 6,455 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Algonquin Power & Utilities by 61.4% in the 3rd quarter. State Street Corp now owns 19,559 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 7,441 shares during the last quarter. Institutional investors and hedge funds own 43.60% of the company’s stock.

About Algonquin Power & Utilities (NYSE:AQN)

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

Further Reading: Correction

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.