Algonquin Power & Utilities Corp. (NYSE:AQN) Receives Consensus Rating of “Hold” from Analysts

Algonquin Power & Utilities Corp. (NYSE:AQN) has been given a consensus rating of “Hold” by the twelve ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $6.4091.

A number of research analysts recently issued reports on AQN shares. TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, August 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Algonquin Power & Utilities in a research note on Wednesday. Desjardins raised their target price on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th.

Institutional Trading of Algonquin Power & Utilities

A number of hedge funds have recently bought and sold shares of AQN. Krilogy Financial LLC boosted its holdings in Algonquin Power & Utilities by 14.8% in the 1st quarter. Krilogy Financial LLC now owns 1,861,445 shares of the utilities provider’s stock valued at $9,568,000 after purchasing an additional 240,400 shares during the period. Sowell Financial Services LLC bought a new stake in Algonquin Power & Utilities in the 1st quarter valued at $59,000. CWA Asset Management Group LLC boosted its holdings in Algonquin Power & Utilities by 40.4% in the 1st quarter. CWA Asset Management Group LLC now owns 285,680 shares of the utilities provider’s stock valued at $1,468,000 after purchasing an additional 82,200 shares during the period. Packer & Co Ltd bought a new stake in Algonquin Power & Utilities in the 1st quarter valued at $23,197,000. Finally, Manning & Napier Advisors LLC boosted its holdings in Algonquin Power & Utilities by 10.0% in the 1st quarter. Manning & Napier Advisors LLC now owns 1,375,000 shares of the utilities provider’s stock valued at $7,068,000 after purchasing an additional 125,000 shares during the period. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Stock Performance

Shares of AQN opened at $5.79 on Friday. The company’s fifty day moving average is $5.69 and its 200-day moving average is $5.61. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.24. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -3.22 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The company had revenue of $535.59 million for the quarter, compared to analyst estimates of $535.64 million. During the same quarter in the prior year, the business posted $0.09 EPS. Equities analysts expect that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.065 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.26 dividend on an annualized basis and a yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -14.44%.

About Algonquin Power & Utilities

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.