Shares of Algonquin Power & Utilities Corp. (TSE:AQN) reached a new 52-week high on Wednesday after Desjardins raised their price target on the stock from C$15.50 to C$15.75. The company traded as high as C$12.66 and last traded at C$12.63, with a volume of 427053 shares changing hands. The stock had previously closed at C$12.52.
A number of other research firms also recently weighed in on AQN. National Bank Financial decreased their price objective on Algonquin Power & Utilities from C$16.50 to C$15.50 and set an “outperform” rating for the company in a report on Wednesday, February 7th. BMO Capital Markets decreased their price objective on Algonquin Power & Utilities from C$16.00 to C$15.50 in a report on Tuesday, February 6th. Raymond James increased their price objective on Algonquin Power & Utilities from C$16.00 to C$16.50 and gave the company a “strong-buy” rating in a report on Wednesday, March 14th. Finally, TD Securities decreased their price objective on Algonquin Power & Utilities from C$16.00 to C$15.50 and set a “buy” rating for the company in a report on Monday, March 5th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of C$15.59.
Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings results on Thursday, March 1st. The company reported C$0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.15 by C$0.05. Algonquin Power & Utilities had a return on equity of 8.59% and a net margin of 11.03%. The firm had revenue of C$523.40 million during the quarter, compared to the consensus estimate of C$529.23 million.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Thursday, March 29th were issued a dividend of $0.149 per share. The ex-dividend date was Wednesday, March 28th. This represents a $0.60 dividend on an annualized basis and a yield of 4.71%.
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About Algonquin Power & Utilities
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates regulated and non-regulated 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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