Shares of Algonquin Power & Utilities Corp (NYSE:AQN) have been assigned a consensus rating of “Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.21.
Several research firms have recently weighed in on AQN. Raymond James reissued a “strong-buy” rating and issued a $15.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, August 9th. National Bank Financial upped their target price on Algonquin Power & Utilities from $12.00 to $12.50 and gave the company a “sector perform” rating in a research report on Friday, June 21st. CIBC reaffirmed an “average” rating and set a $13.50 target price on shares of Algonquin Power & Utilities in a research note on Monday, August 12th. ValuEngine downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TD Securities lifted their target price on Algonquin Power & Utilities from $14.00 to $14.50 and gave the stock a “buy” rating in a report on Monday, August 12th.
NYSE AQN traded down $0.03 during mid-day trading on Friday, reaching $13.15. 191,969 shares of the stock were exchanged, compared to its average volume of 305,742. Algonquin Power & Utilities has a one year low of $9.63 and a one year high of $13.49. The stock has a 50 day simple moving average of $12.89 and a 200-day simple moving average of $11.98. The stock has a market cap of $6.55 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.73 and a beta of 0.60. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.03 and a quick ratio of 0.83.
Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $343.58 million during the quarter, compared to analyst estimates of $372.40 million. Algonquin Power & Utilities had a net margin of 21.46% and a return on equity of 7.57%. Sell-side analysts anticipate that Algonquin Power & Utilities will post 0.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.142 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, September 27th. Algonquin Power & Utilities’s payout ratio is 84.85%.
A number of institutional investors and hedge funds have recently bought and sold shares of AQN. Cidel Asset Management Inc. raised its holdings in shares of Algonquin Power & Utilities by 297.5% during the second quarter. Cidel Asset Management Inc. now owns 3,278,140 shares of the utilities provider’s stock valued at $39,812,000 after purchasing an additional 2,453,487 shares during the period. Toronto Dominion Bank increased its position in Algonquin Power & Utilities by 21.7% in the 1st quarter. Toronto Dominion Bank now owns 8,846,445 shares of the utilities provider’s stock valued at $99,739,000 after buying an additional 1,578,194 shares in the last quarter. TD Asset Management Inc. raised its stake in Algonquin Power & Utilities by 9.6% during the 1st quarter. TD Asset Management Inc. now owns 10,967,544 shares of the utilities provider’s stock worth $123,390,000 after buying an additional 964,894 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Algonquin Power & Utilities during the 1st quarter worth approximately $13,251,000. Finally, Crossmark Global Holdings Inc. bought a new position in Algonquin Power & Utilities in the second quarter worth approximately $9,997,000. 45.95% of the stock is owned by hedge funds and other institutional investors.
Algonquin Power & Utilities Company Profile
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. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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