Algonquin Power & Utilities Corp. (TSE:AQN) Receives C$6.25 Consensus PT from Brokerages

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$6.25.

AQN has been the subject of a number of recent analyst reports. Raymond James lowered shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 12th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company downgraded shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th.

Algonquin Power & Utilities Price Performance

AQN opened at C$6.76 on Monday. The company has a fifty day simple moving average of C$7.18 and a 200 day simple moving average of C$7.99. The firm has a market cap of C$5.18 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a twelve month low of C$6.67 and a twelve month high of C$9.28. The company has a current ratio of 0.97, a quick ratio of 0.37 and a debt-to-equity ratio of 108.48.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, August 9th. The company reported C$0.12 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.11 by C$0.01. The business had revenue of C$819.06 million during the quarter, compared to analyst estimates of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%. Equities research analysts expect that Algonquin Power & Utilities will post 0.4650555 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.33%. Algonquin Power & Utilities’s payout ratio is currently 163.64%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.