Brokerages Set $11.90 Target Price for Algonquin Power & Utilities Corp (AQN)

Shares of Algonquin Power & Utilities Corp (NYSE:AQN) have been given an average broker rating score of 2.17 (Buy) from the six brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Algonquin Power & Utilities’ rating score has declined by 18.6% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokers have set a 1-year consensus price target of $11.90 for the company and are predicting that the company will post $0.13 EPS for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities an industry rank of 141 out of 257 based on the ratings given to related companies.

Several equities analysts recently weighed in on the company. National Bank Financial lifted their price target on Algonquin Power & Utilities from $10.50 to $11.00 and gave the company a “sector perform” rating in a research note on Monday, November 12th. Zacks Investment Research lowered Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Monday, October 15th. Finally, Wells Fargo & Co cut their price objective on Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating for the company in a research note on Monday, August 20th.

AQN traded down $0.01 on Friday, reaching $10.54. 29,603 shares of the stock were exchanged, compared to its average volume of 181,544. Algonquin Power & Utilities has a fifty-two week low of $9.45 and a fifty-two week high of $11.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.17. The stock has a market cap of $4.98 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.61 and a beta of 0.74.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.10. Algonquin Power & Utilities had a return on equity of 9.59% and a net margin of 11.48%. The company had revenue of $366.50 million during the quarter, compared to analysts’ expectations of $480.48 million. The business’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts predict that Algonquin Power & Utilities will post 0.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.256 per share. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $1.02 annualized dividend and a yield of 9.72%. The ex-dividend date of this dividend is Friday, December 28th. Algonquin Power & Utilities’s payout ratio is 87.93%.

Large investors have recently bought and sold shares of the business. Comerica Bank acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $101,000. Blair William & Co. IL acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $136,000. Citadel Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $200,000. Chicago Capital LLC acquired a new position in shares of Algonquin Power & Utilities during the 2nd quarter worth approximately $226,000. Finally, Paloma Partners Management Co acquired a new position in shares of Algonquin Power & Utilities during the 2nd quarter worth approximately $226,000. Institutional investors own 44.58% of the company’s stock.

About Algonquin Power & Utilities

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

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