Algonquin Power & Utilities Corp. (NYSE:AQN) Stock Has Average Target Price of $6.75

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.66.

A number of research analysts recently issued reports on AQN shares. TD set a $6.00 price objective on shares of Algonquin Power & Utilities and gave the company a “hold” rating in a report on Monday, August 31st. National Bank Financial set a $7.00 price target on shares of Algonquin Power & Utilities and gave the company an “outperform” rating in a research report on Tuesday, September 1st. Huntington assumed coverage on shares of Algonquin Power & Utilities in a research note on Monday, September 14th. They set an “outperform” rating and a $7.00 price target for the company. Weiss Ratings lowered shares of Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Barclays reduced their price objective on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Thursday.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in Algonquin Power & Utilities by 13.0% during the first quarter. Principal Financial Group Inc. now owns 13,633,904 shares of the utilities provider’s stock valued at $83,497,000 after acquiring an additional 1,563,924 shares during the last quarter. Norges Bank bought a new position in shares of Algonquin Power & Utilities in the 4th quarter worth about $67,065,000. Bank of Nova Scotia bought a new position in shares of Algonquin Power & Utilities in the 2nd quarter worth about $46,703,000. Dimensional Fund Advisors LP raised its position in shares of Algonquin Power & Utilities by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,716,896 shares of the utilities provider’s stock worth $47,382,000 after acquiring an additional 144,500 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Algonquin Power & Utilities by 85.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,321,263 shares of the utilities provider’s stock valued at $44,861,000 after purchasing an additional 3,376,321 shares during the period. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at $5.11 on Friday. Algonquin Power & Utilities has a 12-month low of $4.91 and a 12-month high of $7.11. The business has a 50-day simple moving average of $5.57 and a two-hundred day simple moving average of $5.87. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.28. The stock has a market cap of $3.93 billion, a PE ratio of 26.87 and a beta of 0.72.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $582.99 million during the quarter, compared to the consensus estimate of $582.99 million. Algonquin Power & Utilities had a net margin of 5.77% and a return on equity of 5.16%. During the same quarter in the prior year, the business posted $0.04 earnings per share. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. Analysts anticipate that Algonquin Power & Utilities will post 0.35 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be paid a $0.0650 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $0.26 annualized dividend and a dividend yield of 5.1%. Algonquin Power & Utilities’s dividend payout ratio is presently 136.84%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is a Canadian diversified utility company that owns and operates regulated utility businesses and renewable energy assets. Through its Liberty operating businesses, the company provides electricity, natural gas and water services to residential, commercial and industrial customers.

The company’s regulated utility operations primarily serve customers in the United States, with additional operations in Canada and Bermuda. Its utility infrastructure includes electric distribution networks, natural gas distribution systems and water and wastewater facilities.