Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.70 Average PT from Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.70.

A number of equities analysts recently weighed in on the company. Natl Bk Canada raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Wall Street Zen raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Raymond James Financial lifted their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a research note on Friday, October 24th. Desjardins upped their price objective on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, National Bankshares set a $7.50 price objective on shares of Algonquin Power & Utilities in a report on Wednesday, January 7th.

Algonquin Power & Utilities Stock Performance

AQN opened at $6.41 on Monday. The firm has a fifty day moving average price of $6.14 and a 200 day moving average price of $5.90. Algonquin Power & Utilities has a 1 year low of $4.26 and a 1 year high of $6.62. The stock has a market cap of $4.92 billion, a P/E ratio of -160.08 and a beta of 0.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.23 and a quick ratio of 0.98.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $596.67 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. Equities research analysts anticipate that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.065 dividend. The ex-dividend date of this dividend was 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 currently -650.00%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Large investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. lifted its position in shares of Algonquin Power & Utilities by 34.4% in the second quarter. EdgePoint Investment Group Inc. now owns 56,764,441 shares of the utilities provider’s stock valued at $324,934,000 after acquiring an additional 14,540,847 shares in the last quarter. Norges Bank acquired a new position in Algonquin Power & Utilities in the 2nd quarter valued at $51,370,000. Ariel Investments LLC lifted its holdings in Algonquin Power & Utilities by 88.6% in the 2nd quarter. Ariel Investments LLC now owns 13,112,831 shares of the utilities provider’s stock valued at $75,137,000 after purchasing an additional 6,160,490 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Algonquin Power & Utilities by 65.0% in 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 purchasing an additional 4,808,539 shares in the last quarter. Finally, Packer & Co Ltd acquired a new stake in Algonquin Power & Utilities during the 3rd quarter worth $24,235,000. 62.28% of the stock is currently 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.