Algonquin Power & Utilities Corp. (NYSE:AQN) Given Consensus Rating of “Hold” by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has received an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $6.13.

A number of analysts have weighed in on AQN shares. Wells Fargo & Company decreased 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. Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. CIBC decreased their price target on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price objective on shares of Algonquin Power & Utilities in a research note on Friday, October 11th.

Algonquin Power & Utilities Price Performance

AQN stock opened at $4.47 on Thursday. The company has a market capitalization of $3.43 billion, a P/E ratio of -3.47 and a beta of 0.69. The company has a fifty day moving average price of $4.67 and a 200-day moving average price of $5.25. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. Algonquin Power & Utilities has a 52-week low of $4.25 and a 52-week high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $620.46 million. During the same period in the prior year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts expect that Algonquin Power & Utilities will post 0.39 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.82%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -20.16%.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of institutional investors have recently modified their holdings of the company. CWA Asset Management Group LLC acquired a new stake in Algonquin Power & Utilities in the 4th quarter valued at $905,000. Franklin Resources Inc. grew its holdings in shares of Algonquin Power & Utilities by 10.4% during the third quarter. Franklin Resources Inc. now owns 644,652 shares of the utilities provider’s stock valued at $3,264,000 after buying an additional 60,946 shares during the last quarter. Virtu Financial LLC increased its position in shares of Algonquin Power & Utilities by 382.0% during the third quarter. Virtu Financial LLC now owns 82,854 shares of the utilities provider’s stock worth $452,000 after acquiring an additional 65,663 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Algonquin Power & Utilities by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,179,465 shares of the utilities provider’s stock worth $7,808,000 after acquiring an additional 128,806 shares during the last quarter. Finally, Barclays PLC lifted its position in Algonquin Power & Utilities by 33.2% in the 3rd quarter. Barclays PLC now owns 829,508 shares of the utilities provider’s stock valued at $4,522,000 after acquiring an additional 206,603 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

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.