Algonquin Power & Utilities (NYSE:AQN) Upgraded at Desjardins

Desjardins upgraded shares of Algonquin Power & Utilities (NYSE:AQN) from a hold rating to a buy rating in a research note released on Wednesday morning, Marketbeat reports. The brokerage currently has $6.25 target price on the utilities provider’s stock, up from their previous target price of $6.00. Desjardins also issued estimates for Algonquin Power & Utilities’ FY2026 earnings at $0.36 EPS and FY2027 earnings at $0.44 EPS.

Several other research firms have also recently weighed in on AQN. TD Securities raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Monday, August 11th. Scotiabank upped their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. CIBC upped their target price on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Wall Street Zen lowered shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Raymond James Financial upped their target price on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.36.

Algonquin Power & Utilities Trading Up 1.0%

Algonquin Power & Utilities stock opened at $5.79 on Wednesday. The stock has a market cap of $4.44 billion, a P/E ratio of -3.21 and a beta of 0.72. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.24. The firm’s fifty day moving average price is $5.70 and its 200-day moving average price is $5.58. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $535.59 million for the quarter, compared to analysts’ expectations of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Equities research analysts forecast that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, September 29th. Algonquin Power & Utilities’s dividend payout ratio is presently -14.44%.

Institutional Trading of Algonquin Power & Utilities

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in Algonquin Power & Utilities by 85.7% during the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock valued at $25,000 after buying an additional 2,256 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Algonquin Power & Utilities during the first quarter valued at about $31,000. Atria Wealth Solutions Inc. purchased a new stake in Algonquin Power & Utilities during the first quarter valued at about $51,000. Wedbush Securities Inc. purchased a new stake in Algonquin Power & Utilities during the second quarter valued at about $58,000. Finally, Sowell Financial Services LLC purchased a new stake in Algonquin Power & Utilities during the first quarter valued at about $59,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.