Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.13 Consensus Target Price from Analysts

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have earned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.13.

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

Institutional Trading of Algonquin Power & Utilities

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC increased its stake in Algonquin Power & Utilities by 14.1% in the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock valued at $97,000 after purchasing an additional 2,201 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Algonquin Power & Utilities by 33.4% during the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after buying an additional 3,343 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in Algonquin Power & Utilities by 12.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 5,158 shares during the period. EverSource Wealth Advisors LLC increased its position in Algonquin Power & Utilities by 25.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 5,863 shares during the period. Finally, Redwood Investment Management LLC raised its stake in Algonquin Power & Utilities by 1.2% during the 3rd quarter. Redwood Investment Management LLC now owns 505,299 shares of the utilities provider’s stock valued at $2,794,000 after acquiring an additional 6,176 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Down 1.6 %

Shares of NYSE:AQN opened at $4.28 on Thursday. The firm’s 50-day moving average is $4.61 and its two-hundred day moving average is $5.19. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.79. The firm has a market capitalization of $3.28 billion, a PE ratio of -3.32 and a beta of 0.69.

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

Algonquin Power & Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.065 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 6.07%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -20.16%.

About Algonquin Power & Utilities

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.