Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been given an average broker rating score of 2.25 (Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. Algonquin Power & Utilities Corp.’s rating score has declined by 50% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokers have set a 1 year consensus price objective of $10.62 for the company and are predicting that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities Corp. an industry rank of 92 out of 265 based on the ratings given to its competitors.

AQN has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Algonquin Power & Utilities Corp. from a “sell” rating to a “hold” rating in a research note on Friday, April 14th. Wells Fargo & Company initiated coverage on shares of Algonquin Power & Utilities Corp. in a research note on Tuesday, June 20th. They issued a “market perform” rating for the company.

Algonquin Power & Utilities Corp. (NYSE AQN) opened at 10.57 on Tuesday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 68.19 and a beta of 0.81. The company has a 50-day moving average of $10.52 and a 200-day moving average of $9.72. Algonquin Power & Utilities Corp. has a 1-year low of $7.75 and a 1-year high of $10.85.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.1165 dividend. This represents a $0.47 annualized dividend and a yield of 4.41%. The ex-dividend date was Wednesday, June 28th. Algonquin Power & Utilities Corp.’s payout ratio is presently 174.07%.

Large investors have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of Algonquin Power & Utilities Corp. by 66.2% in the first quarter. Bank of Montreal Can now owns 14,216,471 shares of the utilities provider’s stock valued at $136,194,000 after buying an additional 5,661,282 shares during the last quarter. Barometer Capital Management Inc. increased its stake in shares of Algonquin Power & Utilities Corp. by 109.5% in the first quarter. Barometer Capital Management Inc. now owns 3,185,783 shares of the utilities provider’s stock valued at $30,520,000 after buying an additional 1,664,783 shares during the last quarter. LGT Capital Partners LTD. increased its stake in shares of Algonquin Power & Utilities Corp. by 15.9% in the first quarter. LGT Capital Partners LTD. now owns 800,000 shares of the utilities provider’s stock valued at $7,620,000 after buying an additional 110,000 shares during the last quarter. Hexavest Inc. increased its stake in shares of Algonquin Power & Utilities Corp. by 4.9% in the first quarter. Hexavest Inc. now owns 692,728 shares of the utilities provider’s stock valued at $6,597,000 after buying an additional 32,198 shares during the last quarter. Finally, Naples Global Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities Corp. during the first quarter valued at approximately $1,247,000. 40.67% of the stock is owned by hedge funds and other institutional investors.

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