Algonquin Power & Utilities Corp (NYSE:AQN) shares reached a new 52-week high on Wednesday . The company traded as high as $11.34 and last traded at $11.24, with a volume of 23052 shares trading hands. The stock had previously closed at $11.30.
AQN has been the subject of a number of analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $11.00 target price on shares of Algonquin Power & Utilities in a research report on Wednesday, December 5th. TD Securities raised their target price on shares of Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, December 5th. Raymond James raised their target price on shares of Algonquin Power & Utilities from $12.50 to $13.00 and gave the company a “strong-buy” rating in a research report on Friday, December 7th. Zacks Investment Research downgraded shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Finally, Bank of America initiated coverage on shares of Algonquin Power & Utilities in a research report on Wednesday, February 27th. They issued a “neutral” rating and a $11.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $11.86.
The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75. The company has a current ratio of 0.99, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Thursday, March 28th. Algonquin Power & Utilities’s dividend payout ratio is currently 77.27%.
Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. lifted its stake in Algonquin Power & Utilities by 48.3% in the fourth quarter. Advisor Group Inc. now owns 8,906 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 2,899 shares during the last quarter. Comerica Bank acquired a new stake in Algonquin Power & Utilities in the third quarter valued at $101,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Algonquin Power & Utilities in the fourth quarter valued at $135,000. Campbell & CO Investment Adviser LLC acquired a new stake in Algonquin Power & Utilities in the fourth quarter valued at $166,000. Finally, MML Investors Services LLC lifted its stake in Algonquin Power & Utilities by 11.7% in the fourth quarter. MML Investors Services LLC now owns 14,938 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 1,566 shares during the last quarter. Hedge funds and other institutional investors own 46.25% of the company’s stock.
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Algonquin Power & Utilities Company Profile (NYSE:AQN)
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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