Algonquin Power & Utilities (NYSE:AQN) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Algonquin Power & Utilities (NYSE:AQN) from a sector perform rating to an outperform rating in a research report report published on Wednesday, Marketbeat reports. They currently have $7.50 target price on the utilities provider’s stock.

Several other research analysts have also recently issued reports on the company. Desjardins upped their price target on Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a report on Thursday, October 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a report on Monday, December 29th. National Bankshares set a $7.50 target price on Algonquin Power & Utilities in a research report on Wednesday. Wall Street Zen raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Janney Montgomery Scott set a $7.00 price target on Algonquin Power & Utilities in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Algonquin Power & Utilities currently has a consensus rating of “Moderate Buy” and an average price target of $6.70.

Algonquin Power & Utilities Price Performance

Shares of NYSE AQN opened at $6.39 on Wednesday. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.62. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of -159.61 and a beta of 0.75. The firm has a 50-day moving average of $6.05 and a two-hundred day moving average of $5.86.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. The company had revenue of $600.80 million for the quarter, compared to analysts’ expectations of $596.67 million. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 4.1%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -650.00%.

Institutional Trading of Algonquin Power & Utilities

A number of hedge funds have recently made changes to their positions in AQN. Goldman Sachs Group Inc. boosted its holdings in shares of Algonquin Power & Utilities by 65.0% during the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after purchasing an additional 4,808,539 shares during the period. Value Partners Investments Inc. lifted its position in Algonquin Power & Utilities by 26.4% in the 2nd quarter. Value Partners Investments Inc. now owns 47,983 shares of the utilities provider’s stock worth $274,000 after buying an additional 10,020 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Algonquin Power & Utilities by 10.6% during the 2nd quarter. Ballentine Partners LLC now owns 23,484 shares of the utilities provider’s stock valued at $135,000 after buying an additional 2,242 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Algonquin Power & Utilities by 59.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,066,247 shares of the utilities provider’s stock valued at $11,834,000 after acquiring an additional 774,061 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of Algonquin Power & Utilities by 46.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 166,064 shares of the utilities provider’s stock valued at $952,000 after acquiring an additional 52,400 shares in the last quarter. 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.