Wells Fargo & Company upgraded shares of Algonquin Power & Utilities (NYSE:AQN – Free Report) to a hold rating in a research report sent to investors on Monday,Zacks.com reports.
A number of other research analysts have also recently issued reports on the stock. Barclays started coverage on shares of Algonquin Power & Utilities in a report on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 target price for the company. Canadian Imperial Bank of Commerce increased their price target on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Monday, April 20th. Desjardins lowered their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Wall Street Zen lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings upgraded shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Algonquin Power & Utilities has a consensus rating of “Hold” and an average price target of $6.77.
Read Our Latest Stock Analysis on Algonquin Power & Utilities
Algonquin Power & Utilities Trading Up 0.1%
Algonquin Power & Utilities (NYSE:AQN – Get Free Report) last issued 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 period last year, the company posted $0.14 earnings per share. On average, research analysts anticipate that Algonquin Power & Utilities will post 0.36 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, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.4%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 118.18%.
Institutional Trading of Algonquin Power & Utilities
Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in Algonquin Power & Utilities during the third quarter worth approximately $29,000. Group One Trading LLC boosted its holdings in shares of 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 purchasing an additional 2,900 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $47,000. Tudor Investment Corp ET AL acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $62,000. Finally, Fiera Capital Corp acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 62.28% of the company’s stock.
About Algonquin Power & Utilities
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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