Algonquin Power & Utilities’ (AQN) “Sell (D)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d) rating on shares of Algonquin Power & Utilities (NYSE:AQN) in a report issued on Wednesday morning,Weiss Ratings reports.

Other analysts have also issued research reports about the company. Desjardins upgraded Algonquin Power & Utilities from a “hold” rating to a “buy” rating and upped their price objective for the company from $6.00 to $6.25 in a report on Wednesday, October 1st. Wall Street Zen raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, TD Securities raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of “Hold” and an average target price of $6.41.

Algonquin Power & Utilities Trading Down 0.2%

Shares of NYSE:AQN opened at $5.79 on Wednesday. The company has a 50 day moving average of $5.69 and a 200-day moving average of $5.61. The firm has a market cap of $4.45 billion, a P/E ratio of -3.22 and a beta of 0.72. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.24. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $535.59 million during the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a positive return on equity of 4.76% and a negative net margin of 57.66%.During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, analysts anticipate that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, September 29th. Algonquin Power & Utilities’s dividend payout ratio is currently -14.44%.

Institutional Trading of Algonquin Power & Utilities

Hedge funds have recently bought and sold shares of the company. US Bancorp DE lifted its stake in Algonquin Power & Utilities by 85.7% during the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock valued at $25,000 after buying an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Algonquin Power & Utilities in the 1st quarter valued at approximately $31,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Algonquin Power & Utilities in the 1st quarter valued at approximately $51,000. Wedbush Securities Inc. purchased a new stake in shares of Algonquin Power & Utilities in the 2nd quarter valued at approximately $58,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of Algonquin Power & Utilities in the 1st quarter valued at approximately $59,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

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.