Shares of Algonquin Power & Utilities Corp. (NYSE:AQN – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.8056.
Several analysts have weighed in on AQN shares. Weiss Ratings upgraded shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. Canadian Imperial Bank of Commerce raised their target price on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a report on Monday, April 20th. Wells Fargo & Company started coverage on shares of Algonquin Power & Utilities in a research report on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 price target for the company. Barclays started coverage on shares of Algonquin Power & Utilities in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 price target for the company. Finally, National Bank Financial reduced their price target on Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, July 3rd.
Check Out Our Latest Stock Analysis on Algonquin Power & Utilities
Algonquin Power & Utilities Stock Down 0.1%
Algonquin Power & Utilities (NYSE:AQN – Get Free Report) last announced its earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. The company had revenue of $713.69 million during the quarter, compared to analysts’ expectations of $713.69 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, equities analysts anticipate that Algonquin Power & Utilities will post 0.36 earnings per share for the current year.
Algonquin Power & Utilities Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, June 30th. Algonquin Power & Utilities’s dividend payout ratio is presently 118.18%.
Institutional Trading of Algonquin Power & Utilities
Large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Algonquin Power & Utilities during the third quarter worth about $29,000. Group One Trading LLC increased its holdings in Algonquin Power & Utilities by 63.3% in the 4th quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock valued at $46,000 after buying an additional 2,900 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $47,000. Tudor Investment Corp ET AL acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $62,000. Finally, Vise Technologies Inc. acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at approximately $56,000. 62.28% of the stock is owned by institutional investors and hedge funds.
Algonquin Power & Utilities Company Profile
Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.
The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.
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