Algonquin Power & Utilities (AQN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Algonquin Power & Utilities (NYSE:AQN) from a hold rating to a sell rating in a research report report published on Tuesday.

According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “

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Algonquin Power & Utilities (NYSE:AQN) opened at $10.17 on Tuesday. Algonquin Power & Utilities has a 52 week low of $9.12 and a 52 week high of $11.34. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $3,878.10, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.20 and a beta of 0.79.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a $0.116 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.46 annualized dividend and a yield of 4.56%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 127.03%.

A number of institutional investors and hedge funds have recently bought and sold shares of AQN. Neuberger Berman Group LLC purchased a new position in Algonquin Power & Utilities in the third quarter valued at about $111,000. Alliancebernstein L.P. purchased a new position in Algonquin Power & Utilities in the second quarter valued at about $161,000. Paloma Partners Management Co purchased a new position in Algonquin Power & Utilities in the fourth quarter valued at about $227,000. BlueCrest Capital Management Ltd purchased a new position in Algonquin Power & Utilities in the fourth quarter valued at about $255,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Algonquin Power & Utilities in the third quarter valued at about $363,000. Institutional investors own 43.52% of the company’s stock.

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Algonquin Power & Utilities Company Profile

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.

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