Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Rating of “Hold” by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $6.55.

A number of equities analysts have weighed in on AQN shares. Desjardins increased their price target on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Raymond James Financial increased their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Scotiabank upgraded Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 target price on the stock in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research report on Monday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EdgePoint Investment Group Inc. grew its stake in Algonquin Power & Utilities by 84.9% during the first quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider’s stock worth $216,868,000 after buying an additional 19,392,805 shares during the period. Southpoint Capital Advisors LP acquired a new position in shares of Algonquin Power & Utilities during the 1st quarter valued at $51,400,000. Norges Bank acquired a new position in shares of Algonquin Power & Utilities during the 2nd quarter valued at $51,370,000. Ariel Investments LLC purchased a new stake in Algonquin Power & Utilities during the 1st quarter worth $35,735,000. Finally, Goldman Sachs Group Inc. boosted its position in Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after purchasing an additional 4,808,539 shares during the period. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Price Performance

AQN opened at $6.23 on Thursday. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.48. The business has a 50-day moving average of $5.95 and a two-hundred day moving average of $5.83. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of -155.71 and a beta of 0.77.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. The business had revenue of $600.80 million for the quarter, compared to analyst estimates of $596.67 million. During the same period in the prior year, the firm posted $0.08 EPS. On average, research analysts expect that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.2%. Algonquin Power & Utilities’s payout ratio is presently -650.00%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.