Algonquin Power & Utilities Corp. (NYSE:AQN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.8056.

Several research analysts have recently commented on the company. Wall Street Zen lowered Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Canadian Imperial Bank of Commerce lifted their target price on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings raised shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. Barclays started coverage on shares of Algonquin Power & Utilities in a report on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 price target on the stock. Finally, Wells Fargo & Company began coverage on shares of Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price objective on the stock.

Algonquin Power & Utilities Trading Up 0.3%

Shares of AQN stock opened at $5.67 on Monday. The company has a market capitalization of $4.36 billion, a PE ratio of 25.75 and a beta of 0.71. Algonquin Power & Utilities has a 52-week low of $5.32 and a 52-week high of $7.11. The business’s fifty day moving average is $5.90 and its 200 day moving average is $6.24. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.The business had revenue of $713.69 million during the quarter, compared to analysts’ expectations of $713.69 million. During the same period in the previous year, the business earned $0.14 earnings per share. On average, equities research analysts anticipate that Algonquin Power & Utilities will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.6%. Algonquin Power & Utilities’s payout ratio is 118.18%.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of large investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in Algonquin Power & Utilities by 2.5% during the second quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock worth $424,000 after purchasing an additional 1,800 shares during the last quarter. Assetmark Inc. increased its position in shares of Algonquin Power & Utilities by 9.4% during the 1st quarter. Assetmark Inc. now owns 22,141 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 1,895 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Algonquin Power & Utilities by 1.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider’s stock valued at $823,000 after buying an additional 1,966 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Algonquin Power & Utilities by 13.1% during the 1st quarter. Bank of New York Mellon Corp now owns 17,334 shares of the utilities provider’s stock valued at $106,000 after buying an additional 2,010 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Algonquin Power & Utilities by 5.7% in the 4th quarter. LPL Financial LLC now owns 37,364 shares of the utilities provider’s stock worth $230,000 after buying an additional 2,026 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.