Algonquin Power & Utilities (AQN) Stock Rating Upgraded by TheStreet

TheStreet upgraded shares of Algonquin Power & Utilities (NYSE:AQN) from a d rating to a b rating in a research report report published on Wednesday, TheStreetRatingsTable reports.

AQN has been the topic of a number of other research reports. Zacks Investment Research raised shares of Algonquin Power & Utilities from a sell rating to a hold rating in a report on Tuesday, February 5th. National Bank Financial increased their price target on shares of Algonquin Power & Utilities from $11.50 to $12.00 and gave the stock a sector perform rating in a report on Monday, April 22nd. TD Securities increased their price target on shares of Algonquin Power & Utilities from $12.00 to $12.50 and gave the stock a buy rating in a report on Monday, March 4th. Raymond James reissued a strong-buy rating and issued a $13.00 price target on shares of Algonquin Power & Utilities in a report on Friday, March 1st. Finally, Bank of America began coverage on shares of Algonquin Power & Utilities in a report on Wednesday, February 27th. They issued a neutral rating and a $11.00 price target on the stock. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $12.13.

Algonquin Power & Utilities stock traded up $0.02 during midday trading on Wednesday, reaching $11.34. 43,111 shares of the stock were exchanged, compared to its average volume of 291,295. The company has a current ratio of 0.99, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $5.54 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.74. Algonquin Power & Utilities has a 52 week low of $9.45 and a 52 week high of $11.60.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $419.90 million for the quarter, compared to analyst estimates of $414.08 million. Algonquin Power & Utilities had a net margin of 11.23% and a return on equity of 9.35%. Research analysts forecast that Algonquin Power & Utilities will post 0.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.128 per share. This represents a $0.51 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Thursday, March 28th. Algonquin Power & Utilities’s dividend payout ratio is currently 77.27%.

Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its holdings in shares of Algonquin Power & Utilities by 48.3% during the 4th quarter. Advisor Group Inc. now owns 8,906 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 2,899 shares during the last quarter. Comerica Bank grew its holdings in shares of Algonquin Power & Utilities by 9.6% during the 1st quarter. Comerica Bank now owns 10,978 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 963 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at $135,000. Corrado Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the 1st quarter valued at $165,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at $166,000. 46.52% of the stock is currently owned by institutional investors.

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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