Algonquin Power & Utilities (NYSE:AQN) Price Target Increased to $14.00 by Analysts at National Bank Financial

Algonquin Power & Utilities (NYSE:AQN) had its price objective hoisted by National Bank Financial from $13.50 to $14.00 in a research report released on Monday morning, Stock Target Advisor reports.

A number of other analysts have also recently weighed in on the stock. Raymond James reaffirmed a strong-buy rating and issued a $15.00 price objective on shares of Algonquin Power & Utilities in a report on Friday, August 9th. ValuEngine cut shares of Algonquin Power & Utilities from a buy rating to a hold rating in a report on Wednesday, October 2nd. Industrial Alliance Securities cut shares of Algonquin Power & Utilities to a buy rating and set a $19.00 price objective on the stock. in a report on Wednesday, October 9th. TD Securities assumed coverage on shares of Algonquin Power & Utilities in a report on Thursday, October 17th. They issued a buy rating on the stock. Finally, CIBC set a $14.30 price objective on shares of Algonquin Power & Utilities and gave the stock a buy rating in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $13.93.

Shares of AQN stock traded up $0.09 during trading hours on Monday, reaching $13.97. The stock had a trading volume of 24,049 shares, compared to its average volume of 1,435,089. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.03 and a quick ratio of 0.83. Algonquin Power & Utilities has a twelve month low of $9.67 and a twelve month high of $14.45. The firm has a 50-day simple moving average of $13.57 and a 200-day simple moving average of $12.47. The firm has a market capitalization of $7.21 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.68 and a beta of 0.58.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). Algonquin Power & Utilities had a return on equity of 7.57% and a net margin of 21.46%. The firm had revenue of $343.58 million during the quarter, compared to analyst estimates of $372.40 million. On average, equities analysts anticipate that Algonquin Power & Utilities will post 0.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.142 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.57 dividend on an annualized basis and a yield of 4.07%. Algonquin Power & Utilities’s dividend payout ratio is presently 84.85%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. bought a new position in shares of Algonquin Power & Utilities during the 2nd quarter valued at about $28,000. Steward Partners Investment Advisory LLC bought a new position in shares of Algonquin Power & Utilities during the 2nd quarter valued at about $34,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Algonquin Power & Utilities by 1,049.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 3,957 shares in the last quarter. Csenge Advisory Group bought a new position in shares of Algonquin Power & Utilities during the 2nd quarter valued at about $146,000. Finally, Comerica Bank boosted its position in shares of Algonquin Power & Utilities by 11.6% during the 2nd quarter. Comerica Bank now owns 12,256 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 1,278 shares in the last quarter. Hedge funds and other institutional investors own 45.89% of the company’s stock.

Algonquin Power & Utilities Company Profile

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. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

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