Algonquin Power & Utilities Corp (AQN) Given $11.90 Average Price Target by Analysts

Shares of Algonquin Power & Utilities Corp (NYSE:AQN) have earned an average broker rating score of 2.17 (Buy) from the six brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Algonquin Power & Utilities’ rating score has declined by 18.6% in the last 90 days as a result of a number of analysts’ ratings changes.

Analysts have set a 12 month consensus price objective of $11.90 for the company and are predicting that the company will post $0.13 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities an industry rank of 94 out of 257 based on the ratings given to related companies.

Several equities research analysts recently commented on AQN shares. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Monday, October 15th. Wells Fargo & Co dropped their target price on Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating on the stock in a report on Monday, August 20th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Algonquin Power & Utilities in a report on Monday, August 13th.

Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new stake in Algonquin Power & Utilities during the 2nd quarter worth approximately $1,667,000. TD Asset Management Inc. increased its holdings in Algonquin Power & Utilities by 1.0% during the 3rd quarter. TD Asset Management Inc. now owns 9,456,874 shares of the utilities provider’s stock worth $97,744,000 after purchasing an additional 90,676 shares during the last quarter. Signition LP purchased a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $235,000. Dean Capital Investments Management LLC purchased a new stake in Algonquin Power & Utilities during the 2nd quarter worth approximately $354,000. Finally, Bank of America Corp DE increased its holdings in Algonquin Power & Utilities by 433.1% during the 2nd quarter. Bank of America Corp DE now owns 4,994,669 shares of the utilities provider’s stock worth $48,298,000 after purchasing an additional 4,057,782 shares during the last quarter. Institutional investors and hedge funds own 43.72% of the company’s stock.

Shares of NYSE AQN traded up $0.05 during midday trading on Friday, hitting $10.75. The stock had a trading volume of 49,647 shares, compared to its average volume of 144,602. The firm has a market capitalization of $5.00 billion, a P/E ratio of 18.53, a P/E/G ratio of 1.61 and a beta of 0.77. Algonquin Power & Utilities has a 1-year low of $9.45 and a 1-year high of $11.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.17 and a quick ratio of 0.94.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $480.48 million. Algonquin Power & Utilities had a return on equity of 9.59% and a net margin of 11.48%. Algonquin Power & Utilities’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Algonquin Power & Utilities will post 0.66 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a dividend of $0.256 per share. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $1.02 annualized dividend and a dividend yield of 9.53%. The ex-dividend date is Friday, December 28th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 87.93%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

Read More: Return on Equity (ROE)

Get a free copy of the Zacks research report on Algonquin Power & Utilities (AQN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit