Algonquin Power & Utilities (NYSE:AQN) Hits New 52-Week Low at $7.41

Shares of Algonquin Power & Utilities Corp. (NYSE:AQNGet Rating) reached a new 52-week low on Tuesday . The company traded as low as $7.41 and last traded at $7.42, with a volume of 211613 shares trading hands. The stock had previously closed at $7.60.

Analysts Set New Price Targets

A number of research firms have commented on AQN. BMO Capital Markets lowered Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $17.50 to $11.00 in a report on Monday, November 14th. Raymond James dropped their price target on Algonquin Power & Utilities from $18.00 to $11.50 and set an “outperform” rating on the stock in a research note on Monday, November 14th. TD Securities downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $10.00 in a research note on Monday, November 14th. National Bankshares dropped their price target on Algonquin Power & Utilities from $13.50 to $12.50 and set a “sector perform” rating on the stock in a research note on Monday, November 14th. Finally, National Bank Financial downgraded Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.47.

Algonquin Power & Utilities Stock Up 2.3 %

The company has a market capitalization of $5.20 billion, a PE ratio of 127.83, a P/E/G ratio of 1.49 and a beta of 0.54. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.72 and a quick ratio of 0.56. The company has a 50-day moving average of $10.65 and a two-hundred day moving average of $12.77.

Algonquin Power & Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be given a dividend of $0.181 per share. The ex-dividend date is Thursday, December 29th. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a yield of 9.44%. Algonquin Power & Utilities’s payout ratio is 1,200.00%.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Algonquin Power & Utilities by 3.7% during the third quarter. Vanguard Group Inc. now owns 23,806,124 shares of the utilities provider’s stock valued at $259,726,000 after purchasing an additional 856,114 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Algonquin Power & Utilities by 0.4% in the third quarter. TD Asset Management Inc. now owns 16,266,941 shares of the utilities provider’s stock valued at $179,815,000 after acquiring an additional 69,607 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Algonquin Power & Utilities by 34.2% in the second quarter. Bank of Nova Scotia now owns 13,548,918 shares of the utilities provider’s stock valued at $182,094,000 after acquiring an additional 3,449,550 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Algonquin Power & Utilities by 10.6% in the third quarter. Toronto Dominion Bank now owns 12,249,606 shares of the utilities provider’s stock valued at $171,714,000 after acquiring an additional 1,170,031 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Algonquin Power & Utilities by 10.4% in the second quarter. Mackenzie Financial Corp now owns 6,988,386 shares of the utilities provider’s stock worth $93,924,000 after purchasing an additional 657,139 shares during the last quarter. 39.99% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

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Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment operates a portfolio of rate-regulated utilities located in the United States, Canada, Chile, and Bermuda.

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