Algonquin Power & Utilities Corp. (TSE:AQN) Receives C$18.25 Average Target Price from Analysts

Algonquin Power & Utilities Corp. (TSE:AQN) has been assigned an average rating of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$18.25.

A number of research analysts have recently weighed in on AQN shares. Credit Suisse Group raised their price objective on shares of Algonquin Power & Utilities to C$17.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 14th. CSFB set a C$17.50 price objective on shares of Algonquin Power & Utilities and gave the company a “neutral” rating in a research note on Wednesday, April 14th. Raymond James lowered their price objective on shares of Algonquin Power & Utilities from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a C$18.00 price objective on shares of Algonquin Power & Utilities in a research note on Monday, March 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Algonquin Power & Utilities from C$22.00 to C$21.00 in a research note on Wednesday, March 31st.

Shares of AQN traded up C$0.05 during mid-day trading on Wednesday, reaching C$20.42. 1,628,729 shares of the company’s stock were exchanged, compared to its average volume of 2,171,335. The company has a quick ratio of 0.45, a current ratio of 0.73 and a debt-to-equity ratio of 78.49. The company has a 50-day simple moving average of C$19.96 and a two-hundred day simple moving average of C$20.70. Algonquin Power & Utilities has a 52-week low of C$16.85 and a 52-week high of C$22.67. The company has a market cap of C$12.23 billion and a price-to-earnings ratio of 11.88.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings data on Thursday, March 4th. The company reported C$0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.28 by C($0.01). The firm had revenue of C$641.79 million for the quarter, compared to analyst estimates of C$625.96 million. As a group, equities research analysts predict that Algonquin Power & Utilities will post 0.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were issued a dividend of $0.1959 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $0.78 annualized dividend and a dividend yield of 3.84%. Algonquin Power & Utilities’s payout ratio is 35.37%.

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, the United States, Chile, and Bermuda. It generates and sells electrical energy through non-regulated renewable and clean energy power generation facilities.

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

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