Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned a consensus broker rating score of 2.25 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. Algonquin Power & Utilities Corp.’s rating score has declined by 12.5% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a twelve-month consensus target price of $10.84 for the company and are predicting that the company will post $0.11 EPS for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities Corp. an industry rank of 62 out of 265 based on the ratings given to related companies.

A number of research firms have recently issued reports on AQN. Wells Fargo & Company assumed coverage on Algonquin Power & Utilities Corp. in a research report on Tuesday, June 20th. They set a “market perform” rating on the stock. Zacks Investment Research raised Algonquin Power & Utilities Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday, August 14th.

A number of large investors have recently modified their holdings of the stock. Virtu KCG Holdings LLC increased its stake in shares of Algonquin Power & Utilities Corp. by 7.4% in the second quarter. Virtu KCG Holdings LLC now owns 13,997 shares of the utilities provider’s stock worth $147,000 after buying an additional 965 shares during the last quarter. Morris Capital Advisors LLC increased its stake in shares of Algonquin Power & Utilities Corp. by 7.4% in the first quarter. Morris Capital Advisors LLC now owns 18,679 shares of the utilities provider’s stock valued at $179,000 after buying an additional 1,280 shares in the last quarter. KCG Holdings Inc. increased its stake in shares of Algonquin Power & Utilities Corp. by 21.3% in the first quarter. KCG Holdings Inc. now owns 13,032 shares of the utilities provider’s stock valued at $124,000 after buying an additional 2,288 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Algonquin Power & Utilities Corp. by 4.6% in the second quarter. Hillsdale Investment Management Inc. now owns 82,270 shares of the utilities provider’s stock valued at $866,000 after buying an additional 3,600 shares in the last quarter. Finally, Naples Global Advisors LLC increased its stake in shares of Algonquin Power & Utilities Corp. by 3.8% in the second quarter. Naples Global Advisors LLC now owns 135,205 shares of the utilities provider’s stock valued at $1,425,000 after buying an additional 5,000 shares in the last quarter. 40.67% of the stock is currently owned by institutional investors.

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Shares of Algonquin Power & Utilities Corp. (NYSE AQN) traded down 0.46% on Wednesday, reaching $10.83. 49,557 shares of the company traded hands. Algonquin Power & Utilities Corp. has a one year low of $7.75 and a one year high of $11.02. The stock has a market capitalization of $4.18 billion, a P/E ratio of 62.97 and a beta of 0.81. The stock’s 50 day moving average price is $10.55 and its 200-day moving average price is $9.95.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.1165 per share. This represents a $0.47 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 28th. Algonquin Power & Utilities Corp.’s payout ratio is currently 156.67%.

Algonquin Power & Utilities Corp. 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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