Algonquin Power & Utilities’ (AQN) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Algonquin Power & Utilities (NYSE:AQN) in a report released on Thursday morning, MarketBeat.com reports. They currently have a $7.00 price target on the utilities provider’s stock.

AQN has been the subject of several other reports. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Scotiabank reduced their target price on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. CIBC lowered their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, Janney Montgomery Scott initiated coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.25.

Algonquin Power & Utilities Trading Down 1.3 %

Shares of AQN opened at $4.47 on Thursday. The business’s 50-day moving average price is $4.87 and its 200 day moving average price is $5.44. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.43 billion, a P/E ratio of -3.47 and a beta of 0.68. Algonquin Power & Utilities has a 1-year low of $4.42 and a 1-year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $573.20 million during the quarter, compared to analyst estimates of $620.46 million. During the same period last year, the company posted $0.11 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that Algonquin Power & Utilities will post 0.39 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.82%. Algonquin Power & Utilities’s dividend payout ratio is -20.15%.

Institutional Trading of Algonquin Power & Utilities

A number of large investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division bought a new stake in shares of Algonquin Power & Utilities in the third quarter valued at about $54,000. Capstone Investment Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $58,000. Walleye Capital LLC acquired a new stake in shares of Algonquin Power & Utilities in the third quarter valued at approximately $59,000. Claro Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the second quarter worth $61,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $61,000. 62.28% of the stock is owned by institutional investors.

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.