Analysts Set Algonquin Power & Utilities Corp. (NYSE:AQN) Price Target at $16.83

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.83.

A number of equities analysts have recently commented on AQN shares. National Bank Financial lowered their price objective on Algonquin Power & Utilities from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, March 8th. Zacks Investment Research downgraded Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Tuesday, March 30th. Morgan Stanley boosted their price objective on Algonquin Power & Utilities from $16.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 25th. Raymond James downgraded Algonquin Power & Utilities from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $20.00 in a research report on Wednesday, January 27th. Finally, TD Securities boosted their price objective on Algonquin Power & Utilities from $18.00 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, December 15th.

NYSE:AQN traded up $0.08 on Friday, reaching $16.38. 12,969 shares of the company’s stock were exchanged, compared to its average volume of 1,047,330. The company has a quick ratio of 1.02, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 2.86 and a beta of 0.39. The business has a fifty day moving average of $15.98 and a 200-day moving average of $16.03. Algonquin Power & Utilities has a 52-week low of $12.45 and a 52-week high of $17.86.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, March 4th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). Algonquin Power & Utilities had a return on equity of 7.87% and a net margin of 27.73%. As a group, equities analysts anticipate that Algonquin Power & Utilities will post 0.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be issued a $0.1551 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Tuesday, March 30th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 98.41%.

Several hedge funds have recently bought and sold shares of AQN. AGF Investments LLC acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at approximately $25,000. JustInvest LLC boosted its holdings in shares of Algonquin Power & Utilities by 13.1% in the fourth quarter. JustInvest LLC now owns 22,323 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 2,585 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at approximately $35,000. Tompkins Financial Corp acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at approximately $54,000. Finally, Barclays PLC boosted its holdings in shares of Algonquin Power & Utilities by 40.6% in the fourth quarter. Barclays PLC now owns 4,983 shares of the utilities provider’s stock valued at $82,000 after acquiring an additional 1,439 shares during the period. 45.90% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates as a diversified utility company. The firm engages in the ownership and operation of a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. It operates through the following segments: Regulated Services Group, and Renewable Energy Group.

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Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

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