Algonquin Power & Utilities Corp (AQN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Algonquin Power & Utilities Corp (TSE:AQN) have been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$15.33.

A number of analysts have weighed in on AQN shares. National Bank Financial upped their target price on Algonquin Power & Utilities from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. TD Securities upped their target price on Algonquin Power & Utilities from C$15.00 to C$16.00 in a report on Tuesday, October 24th. Desjardins upped their target price on Algonquin Power & Utilities from C$15.25 to C$16.00 in a report on Monday, November 13th. Scotiabank restated an “outperform” rating and set a C$15.50 target price on shares of Algonquin Power & Utilities in a report on Monday, November 13th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a C$16.00 price objective on shares of Algonquin Power & Utilities in a report on Wednesday, December 6th.

Shares of Algonquin Power & Utilities (TSE:AQN) opened at C$13.69 on Tuesday. The firm has a market capitalization of $5,300.00, a price-to-earnings ratio of 27.94 and a beta of 0.39. Algonquin Power & Utilities has a twelve month low of C$11.19 and a twelve month high of C$14.40.

Algonquin Power & Utilities (TSE:AQN) last posted its earnings results on Tuesday, November 14th. The company reported C$0.16 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.13 by C$0.03. Algonquin Power & Utilities had a return on equity of 8.59% and a net margin of 11.03%.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was 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 currently 123.12%.

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Algonquin Power & Utilities Company Profile

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.

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

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