Algonquin Power & Utilities Corp. (NYSE:AQN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $6.8056.

AQN has been the subject of a number of research reports. Barclays initiated coverage on Algonquin Power & Utilities in a report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 target price for the company. National Bank Financial cut their price target on Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, July 3rd. Weiss Ratings raised shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. Wells Fargo & Company started coverage on shares of Algonquin Power & Utilities in a research note on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 target price for the company. Finally, Canadian Imperial Bank of Commerce increased their price target on Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Monday, April 20th.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of large investors have recently made changes to their positions in AQN. Goldman Sachs Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after buying an additional 4,808,539 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Algonquin Power & Utilities during the 2nd quarter worth approximately $85,000. American Century Companies Inc. boosted its position in shares of Algonquin Power & Utilities by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 240,683 shares of the utilities provider’s stock worth $1,377,000 after purchasing an additional 18,752 shares during the period. Russell Investments Group Ltd. increased its holdings in Algonquin Power & Utilities by 15.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 120,708 shares of the utilities provider’s stock valued at $691,000 after purchasing an additional 16,552 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Algonquin Power & Utilities by 465.0% in the 2nd quarter. Marshall Wace LLP now owns 106,046 shares of the utilities provider’s stock valued at $608,000 after purchasing an additional 87,276 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Down 0.6%

Algonquin Power & Utilities stock opened at $5.83 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.87. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 26.52 and a beta of 0.71. Algonquin Power & Utilities has a 1-year low of $5.32 and a 1-year high of $7.11. The business has a fifty day moving average price of $5.85 and a 200-day moving average price of $6.22.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. The company had revenue of $713.69 million during the quarter, compared to analysts’ expectations of $713.69 million. During the same period last year, the business earned $0.14 EPS. Equities research analysts forecast that Algonquin Power & Utilities will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 118.18%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.