Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have earned an average broker rating score of 2.25 (Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company.

Analysts have set a 12-month consensus price target of $10.84 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 given Algonquin Power & Utilities Corp. an industry rank of 173 out of 265 based on the ratings given to its competitors.

AQN has been the subject of a number of research reports. Zacks Investment Research upgraded Algonquin Power & Utilities Corp. from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, August 14th. Wells Fargo & Company initiated coverage on Algonquin Power & Utilities Corp. in a research note on Tuesday, June 20th. They issued a “market perform” rating for the company.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ecofin Ltd. acquired a new position in shares of Algonquin Power & Utilities Corp. during the second quarter worth approximately $9,756,000. QCM Cayman Ltd. acquired a new position in shares of Algonquin Power & Utilities Corp. during the second quarter worth approximately $288,000. Guardian Capital Advisors LP boosted its position in shares of Algonquin Power & Utilities Corp. by 3.0% during the second quarter. Guardian Capital Advisors LP now owns 203,125 shares of the utilities provider’s stock worth $2,622,000 after buying an additional 5,870 shares during the period. Bank of Nova Scotia Trust Co. boosted its position in shares of Algonquin Power & Utilities Corp. by 1.3% during the second quarter. Bank of Nova Scotia Trust Co. now owns 544,999 shares of the utilities provider’s stock worth $5,745,000 after buying an additional 6,881 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Algonquin Power & Utilities Corp. by 4.6% during the second quarter. Hillsdale Investment Management Inc. now owns 82,270 shares of the utilities provider’s stock worth $866,000 after buying an additional 3,600 shares during the period. Institutional investors and hedge funds own 38.06% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Set $10.84 Price Target for Algonquin Power & Utilities Corp. (AQN)” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/06/zacks-analysts-set-10-84-price-target-for-algonquin-power-utilities-corp-aqn.html.

Shares of Algonquin Power & Utilities Corp. (AQN) traded down 0.56% during trading on Friday, hitting $10.65. The stock had a trading volume of 67,476 shares. The firm’s 50-day moving average is $10.75 and its 200-day moving average is $10.27. Algonquin Power & Utilities Corp. has a one year low of $7.75 and a one year high of $11.21. The firm has a market cap of $4.11 billion, a P/E ratio of 59.50 and a beta of 0.81.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.1165 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.47 annualized dividend and a dividend yield of 4.35%. Algonquin Power & Utilities Corp.’s dividend payout ratio is presently 156.67%.

About Algonquin Power & Utilities Corp.

Algonquin Power & Utilities Corp., through its subsidiaries, engages in the generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

Get a free copy of the Zacks research report on Algonquin Power & Utilities Corp. (AQN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Algonquin Power & Utilities Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities Corp. and related companies with MarketBeat.com's FREE daily email newsletter.