Analysts Set Algonquin Power & Utilities Corp. (NYSE:AQN) Price Target at $6.70

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $6.70.

Several research firms have weighed in on AQN. National Bank Financial raised shares of Algonquin Power & Utilities from a “sector perform” rating to an “outperform” rating and set a $7.50 price target for the company in a research note on Wednesday, January 7th. Janney Montgomery Scott set a $7.00 target price on Algonquin Power & Utilities in a research report on Monday, November 10th. Natl Bk Canada upgraded 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. Finally, Scotiabank raised Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 target price on the stock in a research report on Tuesday, December 16th.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at $6.37 on Monday. The firm has a market cap of $4.89 billion, a PE ratio of -159.09 and a beta of 0.75. Algonquin Power & Utilities has a 52-week low of $4.26 and a 52-week high of $6.62. The business’s 50 day moving average price is $6.15 and its two-hundred day moving average price is $5.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.23.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $596.67 million. During the same quarter last year, the firm posted $0.08 EPS. On average, equities analysts anticipate that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.065 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.26 annualized dividend and a yield of 4.1%. Algonquin Power & Utilities’s dividend payout ratio is presently -650.00%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Hedge funds and other institutional investors have recently made changes to their positions in the business. EdgePoint Investment Group Inc. lifted its position in Algonquin Power & Utilities by 8.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 61,652,676 shares of the utilities provider’s stock valued at $331,292,000 after acquiring an additional 4,888,235 shares in the last quarter. Vanguard Group Inc. increased its holdings in Algonquin Power & Utilities by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 33,744,586 shares of the utilities provider’s stock worth $181,377,000 after purchasing an additional 1,086,040 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Algonquin Power & Utilities by 12.5% in the third quarter. Bank of Montreal Can now owns 16,830,890 shares of the utilities provider’s stock worth $90,441,000 after purchasing an additional 1,863,459 shares during the last quarter. Ariel Investments LLC lifted its holdings in shares of Algonquin Power & Utilities by 88.6% in the second 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. Finally, Goldman Sachs Group Inc. boosted its position in shares of Algonquin Power & Utilities by 65.0% during the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after buying an additional 4,808,539 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Company Profile

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.