Howard Weil cut shares of Algonquin Power & Utilities (NYSE:AQN) from a sector outperform rating to a sector perform rating in a research note issued to investors on Wednesday, Briefing.com Automated Import reports.
A number of other analysts also recently weighed in on AQN. Zacks Investment Research upgraded Algonquin Power & Utilities from a sell rating to a hold rating in a research report on Tuesday, October 22nd. TD Securities lifted their price target on shares of Algonquin Power & Utilities from $15.00 to $16.00 and gave the stock a buy rating in a research note on Wednesday. Royal Bank of Canada boosted their price objective on shares of Algonquin Power & Utilities from $12.00 to $13.00 and gave the stock an outperform rating in a report on Tuesday, August 13th. CIBC set a $14.30 price objective on shares of Algonquin Power & Utilities and gave the company a buy rating in a research note on Tuesday, October 15th. Finally, Raymond James set a $16.00 target price on shares of Algonquin Power & Utilities and gave the company a strong-buy rating in a report on Thursday, November 21st. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Algonquin Power & Utilities has a consensus rating of Buy and an average target price of $14.23.
AQN opened at $14.22 on Wednesday. The business’s fifty day simple moving average is $13.78 and its 200 day simple moving average is $13.00. Algonquin Power & Utilities has a 52 week low of $9.67 and a 52 week high of $14.60. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The stock has a market cap of $7.45 billion, a PE ratio of 21.55, a P/E/G ratio of 2.64 and a beta of 0.57.
Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Algonquin Power & Utilities had a return on equity of 7.92% and a net margin of 25.08%. The firm had revenue of $365.60 million during the quarter, compared to analyst estimates of $405.41 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. As a group, equities analysts anticipate that Algonquin Power & Utilities will post 0.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Monday, December 30th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 84.85%.
Several hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Algonquin Power & Utilities in the second quarter worth about $34,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in 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 during the period. Csenge Advisory Group purchased a new position in Algonquin Power & Utilities during the 2nd quarter valued at about $146,000. Comerica Bank raised its position in 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 during the last quarter. Finally, Verity Asset Management Inc. raised its position in Algonquin Power & Utilities by 14.0% during the 2nd quarter. Verity Asset Management Inc. now owns 12,670 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 1,557 shares during the last quarter. Hedge funds and other institutional investors own 43.89% of the company’s stock.
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. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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