Algonquin Power & Utilities Corp. (TSE:AQN) – Analysts at National Bank Financial lifted their FY2017 earnings per share estimates for shares of Algonquin Power & Utilities in a note issued to investors on Tuesday. National Bank Financial analyst R. Merer now forecasts that the company will post earnings of $0.70 per share for the year, up from their previous estimate of $0.69. National Bank Financial has a “Outperform” rating and a $16.50 price objective on the stock.
Several other analysts have also issued reports on AQN. Raymond James Financial upped their target price on Algonquin Power & Utilities from C$15.00 to C$16.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$16.00 target price on shares of Algonquin Power & Utilities in a research note on Wednesday. CIBC upped their target price on Algonquin Power & Utilities from C$15.50 to C$16.00 in a research note on Monday, November 13th. Royal Bank Of Canada upped their target price on Algonquin Power & Utilities from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Monday, November 13th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a C$15.50 target price on shares of Algonquin Power & Utilities in a research note on Monday, November 13th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$15.33.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Thursday, December 28th. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.12. Algonquin Power & Utilities’s dividend payout ratio is 123.12%.
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About Algonquin Power & Utilities
Algonquin Power & Utilities Corp. (APUC) is a Canada-based company engaged in owning and operating a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. APUC’s operations are organized across three business units consisting of Generation, Transmission and Distribution.
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