Algonquin Power & Utilities Corp. (NYSE:AQN) receives an average rating of “Hold” by brokerages

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Shares of Algonquin Power & Utilities Corp. (NYSE:AQN – Get Rating) earned an average rating of “Hold” from the eleven brokerages that currently cover the business, Marketbeat Ratings reports. One financial analyst rated the stock with a sell recommendation, seven issued a hold recommendation and three gave the company a buy recommendation. The average 1-year target price among brokers who have issued ratings on the stock in the past year is $16.63.

AQN has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report Thursday. National Bank Financial downgraded Algonquin Power & Utilities from an “outperforming” rating to an “sector performance” rating and set a target price of $16.00 for the stock. in a research note Wednesday. StockNews.com launched coverage on Algonquin Power & Utilities in a Thursday, March 31 report. They set a “sell” rating for the company. National Bankshares downgraded shares of Algonquin Power & Utilities from an “outperform” rating to an “sector performer” rating and set a price target of $16.00 for the stock. in a research note Wednesday. Finally, Raymond James set a price target of $20.00 on Algonquin Power & Utilities shares and gave the company an “outperform” rating in a Friday, March 4 research note.

Shares of Algonquin Power & Utilities opened at $13.78 on Friday. Algonquin Power & Utilities has a one-year low of $13.39 and a one-year high of $16.26. The company has a market capitalization of $9.28 billion, a price/earnings ratio of 34.45, a PEG ratio of 2.34 and a beta of 0.43. The company has a debt ratio of 0.81, a quick ratio of 0.56 and a current ratio of 0.69. The company’s 50-day moving average price is $15.13 and its 200-day moving average price is $14.47.

Algonquin Power & Utilities (NYSE:AQN – Get Rating) last reported quarterly earnings data on Thursday, March 3. The utility provider reported EPS of $0.21 for the quarter, meeting analyst consensus estimates of $0.21. Algonquin Power & Utilities posted a return on equity of 6.97% and a net margin of 11.59%. The company posted revenue of $594.80 million for the quarter, versus a consensus estimate of $594.36 million. In the same quarter last year, the company posted earnings per share of $0.21. On average, analysts predict Algonquin Power & Utilities will post 0.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 14. Shareholders of record on Thursday, March 31 received a dividend of $0.1706 per share. The ex-dividend date was Wednesday, March 30. This represents an annualized dividend of $0.68 and a dividend yield of 4.95%. Algonquin Power & Utilities’ dividend payout ratio is currently 170.00%.

Major investors have recently changed their stake in the company. Morgan Stanley increased its equity stake in Algonquin Power & Utilities by 1.2% in the second quarter. Morgan Stanley now owns 3,524,370 shares of the utility provider valued at $52,442,000 after acquiring an additional 42,596 shares during the period. Commonwealth Equity Services LLC increased its equity stake in Algonquin Power & Utilities by 13.5% in the third quarter. Commonwealth Equity Services LLC now owns 37,030 shares of the utility provider valued at $542,000 after acquiring an additional 4,416 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Algonquin Power & Utilities in Q3 worth $274,000. Advisor Group Holdings Inc. increased its equity stake in Algonquin Power & Utilities by 5.9% in the third quarter. Advisor Group Holdings Inc. now owns 55,350 shares of the utility provider valued at $809,000 after acquiring 3,108 additional shares during the period. Finally, JustInvest LLC increased its equity stake in Algonquin Power & Utilities by 59.0% in the third quarter. JustInvest LLC now owns 33,192 shares of the utility provider valued at $487,000 after acquiring an additional 12,319 shares during the period. Institutional investors and hedge funds hold 45.25% of the company’s shares.

About Algonquin Power & Utilities (Get a rating)

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and unregulated generation, distribution and transmission assets in Canada, the United States, Chile and Bermuda. It produces and sells electrical energy through renewable and clean energy generation facilities.

Further reading

Analyst Recommendations for Algonquin Power & Utilities (NYSE: AQN)



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