Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $15.66 Consensus Target Price from Analysts

Algonquin Power & Utilities Corp. (NYSE:AQN) has received an average rating of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $15.81.

AQN has been the topic of several recent research reports. National Bank Financial set a $15.75 price target on Algonquin Power & Utilities and gave the stock an “outperform” rating in a report on Monday, July 20th. TD Securities set a $17.00 price objective on Algonquin Power & Utilities and gave the stock a “buy” rating in a research report on Monday, July 20th. Zacks Investment Research raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Friday. Morgan Stanley upped their price objective on Algonquin Power & Utilities from $15.50 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Finally, Raymond James set a $18.00 price objective on Algonquin Power & Utilities and gave the stock a “strong-buy” rating in a research report on Monday, August 17th.

NYSE AQN traded up $0.13 during trading hours on Friday, hitting $15.73. 713,447 shares of the company were exchanged, compared to its average volume of 855,805. The company has a 50 day moving average of $14.39 and a two-hundred day moving average of $13.79. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 0.91. Algonquin Power & Utilities has a 52-week low of $9.53 and a 52-week high of $16.85. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 3.10 and a beta of 0.46.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, August 13th. The utilities provider reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). Algonquin Power & Utilities had a return on equity of 8.01% and a net margin of 31.62%. The company had revenue of $343.64 million for the quarter, compared to analysts’ expectations of $357.37 million. On average, equities research analysts predict that Algonquin Power & Utilities will post 0.64 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.308 dividend. The ex-dividend date was Tuesday, September 29th. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.16. This represents a $1.23 dividend on an annualized basis and a dividend yield of 7.83%. Algonquin Power & Utilities’s dividend payout ratio is 98.41%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc. lifted its position in Algonquin Power & Utilities by 37.4% during the 2nd quarter. TD Asset Management Inc. now owns 14,569,057 shares of the utilities provider’s stock worth $187,729,000 after acquiring an additional 3,968,106 shares during the period. GQG Partners LLC raised its stake in shares of Algonquin Power & Utilities by 45.3% during the 2nd quarter. GQG Partners LLC now owns 11,520,569 shares of the utilities provider’s stock worth $148,448,000 after buying an additional 3,593,723 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Algonquin Power & Utilities by 28.8% during the 2nd quarter. Toronto Dominion Bank now owns 9,103,033 shares of the utilities provider’s stock worth $118,660,000 after buying an additional 2,034,471 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Algonquin Power & Utilities by 339.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,589,610 shares of the utilities provider’s stock worth $33,369,000 after buying an additional 2,000,000 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Algonquin Power & Utilities by 37,233.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,984,655 shares of the utilities provider’s stock worth $25,212,000 after buying an additional 1,979,339 shares in the last quarter. 36.93% of the stock is owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

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 non-regulated renewable and clean energy power generation facilities.

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

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