Algonquin Power & Utilities Corp. (TSE:AQN) Receives C$18.08 Consensus Target Price from Analysts

Algonquin Power & Utilities Corp. (TSE:AQN) has earned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$18.08.

A number of analysts recently weighed in on AQN shares. Credit Suisse Group reduced their price objective on shares of Algonquin Power & Utilities to C$16.50 and set a “neutral” rating on the stock in a research report on Tuesday, May 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$18.00 target price on shares of Algonquin Power & Utilities in a research report on Monday, March 15th. JPMorgan Chase & Co. reduced their target price on shares of Algonquin Power & Utilities from C$22.00 to C$21.00 in a research report on Wednesday, March 31st. CSFB set a C$17.50 target price on shares of Algonquin Power & Utilities and gave the stock a “neutral” rating in a research report on Wednesday, April 14th. Finally, Raymond James reduced their target price on shares of Algonquin Power & Utilities from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, March 5th.

Algonquin Power & Utilities stock traded up C$0.11 during midday trading on Thursday, reaching C$19.27. The stock had a trading volume of 2,192,805 shares, compared to its average volume of 2,145,560. The company has a debt-to-equity ratio of 102.71, a quick ratio of 0.36 and a current ratio of 0.57. Algonquin Power & Utilities has a 52-week low of C$16.85 and a 52-week high of C$22.67. The company has a market capitalization of C$11.79 billion and a price-to-earnings ratio of 10.86. The stock has a fifty day simple moving average of C$19.44.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings data on Thursday, May 6th. The company reported C$0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.27 by C($0.02). The company had revenue of C$803.52 million for the quarter, compared to the consensus estimate of C$687.72 million. On average, equities analysts forecast that Algonquin Power & Utilities will post 0.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be paid a dividend of $0.171 per share. The ex-dividend date is Tuesday, June 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.55%. Algonquin Power & Utilities’s dividend payout ratio is presently 35.15%.

In other news, Senior Officer Jennifer Sara Tindale sold 2,000 shares of the stock in a transaction that occurred on Friday, May 21st. The shares were sold at an average price of C$18.60, for a total transaction of C$37,200.00. Following the transaction, the insider now directly owns 44,830 shares in the company, valued at C$833,838.

Algonquin Power & Utilities Company Profile

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, the United States, Chile, and Bermuda. It generates and sells electrical energy through non-regulated renewable and clean energy power generation facilities.

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

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