Shares of Algonquin Power & Utilities Corp. (TSE:AQN) have been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$15.63.
Several research firms have weighed in on AQN. National Bank Financial lowered their price target on Algonquin Power & Utilities from C$15.50 to C$15.00 and set an “outperform” rating on the stock in a report on Monday, March 5th. BMO Capital Markets lowered their price target on Algonquin Power & Utilities from C$16.00 to C$15.50 in a report on Tuesday, February 6th. TD Securities lowered their price target on Algonquin Power & Utilities from C$16.00 to C$15.50 and set a “buy” rating on the stock in a report on Monday, March 5th. Finally, Raymond James Financial raised their price target on Algonquin Power & Utilities from C$16.00 to C$16.50 and gave the company a “strong-buy” rating in a report on Wednesday, March 14th.
Shares of TSE:AQN traded down C$0.02 on Friday, hitting C$12.27. The company’s stock had a trading volume of 622,154 shares, compared to its average volume of 1,200,013. Algonquin Power & Utilities has a 1 year low of C$12.18 and a 1 year high of C$14.40.
Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Thursday, March 1st. The company reported C$0.20 earnings per share for the quarter, beating the consensus estimate of C$0.15 by C$0.05. Algonquin Power & Utilities had a return on equity of 8.59% and a net margin of 11.03%. The firm had revenue of C$523.40 million for the quarter, compared to analysts’ expectations of C$529.23 million.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be issued a dividend of $0.149 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.86%.
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Algonquin Power & Utilities Company Profile
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates regulated and non-regulated generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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