Algonquin Power & Utilities (NYSE:AQN) had its price target boosted by National Bank Financial from $12.00 to $12.50 in a research report released on Friday, BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the utilities provider’s stock.

AQN has been the subject of a number of other reports. Bank of America started coverage on Algonquin Power & Utilities in a research report on Wednesday, February 27th. They set a neutral rating and a $11.00 price objective for the company. Raymond James reaffirmed a strong-buy rating and set a $13.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, March 1st. Desjardins reaffirmed a buy rating and set a $13.00 price objective on shares of Algonquin Power & Utilities in a research report on Tuesday, April 23rd. TD Securities increased their price objective on Algonquin Power & Utilities from $12.00 to $12.50 and gave the stock a buy rating in a research report on Monday, March 4th. Finally, Zacks Investment Research cut Algonquin Power & Utilities from a buy rating to a hold rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $12.19.

Algonquin Power & Utilities stock opened at $12.44 on Friday. Algonquin Power & Utilities has a twelve month low of $9.45 and a twelve month high of $12.56. The stock’s 50 day moving average is $11.85. The company has a quick ratio of 1.10, a current ratio of 1.29 and a debt-to-equity ratio of 1.03. The firm has a market cap of $6.11 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.55 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). Algonquin Power & Utilities had a return on equity of 7.64% and a net margin of 15.57%. The company had revenue of $477.23 million for the quarter, compared to analyst estimates of $498.08 million. As a group, equities analysts predict that Algonquin Power & Utilities will post 0.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.142 dividend. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $0.57 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Thursday, June 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 77.27%.

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Algonquin Power & Utilities by 16.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,895 shares of the utilities provider’s stock valued at $1,366,000 after buying an additional 19,054 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $10,540,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $7,252,000. Intact Investment Management Inc. lifted its holdings in shares of Algonquin Power & Utilities by 9.0% in the 1st quarter. Intact Investment Management Inc. now owns 6,529,760 shares of the utilities provider’s stock valued at $98,012,000 after buying an additional 536,700 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Algonquin Power & Utilities by 373.3% in the 1st quarter. Acadian Asset Management LLC now owns 702,900 shares of the utilities provider’s stock valued at $7,908,000 after buying an additional 554,400 shares during the period. 45.89% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile

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

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