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

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.8333.

Several research analysts recently commented on AQN shares. Wall Street Zen lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. TD Cowen reduced their price target on Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Barclays started coverage on Algonquin Power & Utilities in a report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 price objective for the company. Wells Fargo & Company assumed coverage on Algonquin Power & Utilities in a research note on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 target price on the stock. Finally, Weiss Ratings raised Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at $5.87 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05. The company has a market capitalization of $4.51 billion, a PE ratio of 26.66 and a beta of 0.71. The company has a 50 day moving average price of $6.08 and a 200-day moving average price of $6.26. Algonquin Power & Utilities has a fifty-two week low of $5.32 and a fifty-two week high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $713.69 million during the quarter, compared to the consensus estimate of $713.69 million. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.During the same period in the previous year, the company posted $0.14 earnings per share. As a group, equities analysts forecast that Algonquin Power & Utilities will post 0.36 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.4%. Algonquin Power & Utilities’s payout ratio is 118.18%.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of institutional investors have recently bought and sold shares of AQN. Goldman Sachs Group Inc. raised its stake in shares of Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after buying an additional 4,808,539 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Algonquin Power & Utilities during the second quarter worth about $85,000. American Century Companies Inc. raised its position in Algonquin Power & Utilities by 8.4% during the second quarter. American Century Companies Inc. now owns 240,683 shares of the utilities provider’s stock valued at $1,377,000 after acquiring an additional 18,752 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Algonquin Power & Utilities by 15.9% in the second quarter. Russell Investments Group Ltd. now owns 120,708 shares of the utilities provider’s stock valued at $691,000 after acquiring an additional 16,552 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Algonquin Power & Utilities by 465.0% in the second quarter. Marshall Wace LLP now owns 106,046 shares of the utilities provider’s stock valued at $608,000 after acquiring an additional 87,276 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

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.