Algonquin Power & Utilities Corp (NYSE:AQN) Receives $12.67 Consensus Price Target from Analysts

Algonquin Power & Utilities Corp (NYSE:AQN) has been assigned an average rating of “Buy” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $13.06.

Several research analysts have issued reports on AQN shares. Raymond James reissued a “strong-buy” rating and set a $15.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, August 9th. Royal Bank of Canada raised their price objective on shares of Algonquin Power & Utilities from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Industrial Alliance Securities reissued a “buy” rating on shares of Algonquin Power & Utilities in a research report on Monday, August 12th. Desjardins reissued a “buy” rating and set a $13.00 price objective on shares of Algonquin Power & Utilities in a research report on Tuesday, April 23rd. Finally, TheStreet raised shares of Algonquin Power & Utilities from a “d” rating to a “b” rating in a report on Wednesday, May 8th.

Several large investors have recently modified their holdings of AQN. Intact Investment Management Inc. lifted its stake in shares of Algonquin Power & Utilities by 9.0% in the first quarter. Intact Investment Management Inc. now owns 6,529,760 shares of the utilities provider’s stock valued at $98,012,000 after purchasing an additional 536,700 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in shares of Algonquin Power & Utilities by 27.7% in the second quarter. Campbell & CO Investment Adviser LLC now owns 43,012 shares of the utilities provider’s stock valued at $521,000 after purchasing an additional 9,340 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Algonquin Power & Utilities by 373.3% in the first quarter. Acadian Asset Management LLC now owns 702,900 shares of the utilities provider’s stock valued at $7,908,000 after purchasing an additional 554,400 shares during the period. Csenge Advisory Group acquired a new stake in shares of Algonquin Power & Utilities in the second quarter valued at about $146,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Algonquin Power & Utilities in the first quarter valued at about $13,251,000. 46.82% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities stock traded up $0.05 during midday trading on Monday, hitting $12.93. 274,000 shares of the company’s stock were exchanged, compared to its average volume of 309,709. Algonquin Power & Utilities has a 12-month low of $9.63 and a 12-month high of $13.07. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.10 and a current ratio of 1.03. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66. The firm’s 50 day simple moving average is $12.59 and its 200 day simple moving average is $11.74.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). Algonquin Power & Utilities had a return on equity of 7.57% and a net margin of 21.46%. The business had revenue of $343.58 million for the quarter, compared to analysts’ expectations of $372.40 million. On average, equities research analysts forecast that Algonquin Power & Utilities will post 0.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.142 dividend. This represents a $0.57 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Friday, September 27th. Algonquin Power & Utilities’s payout ratio is 84.85%.

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. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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

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