Zacks: Algonquin Power & Utilities Corp (AQN) Given $11.90 Consensus Price Target by Brokerages

Algonquin Power & Utilities Corp (NYSE:AQN) has been given an average broker rating score of 2.17 (Buy) from the six analysts that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Algonquin Power & Utilities’ rating score has declined by 18.6% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Brokers have set a one year consensus target price of $11.90 for the company and are anticipating that the company will post $0.13 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities an industry rank of 94 out of 257 based on the ratings given to related companies.

A number of equities research analysts have weighed in on AQN shares. TD Securities upped their price target on shares of Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $11.00 price target on shares of Algonquin Power & Utilities in a report on Wednesday. Zacks Investment Research downgraded shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Monday, October 15th. Wells Fargo & Co cut their price target on shares of Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating for the company in a report on Monday, August 20th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Algonquin Power & Utilities in a report on Monday, August 13th.



A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Algonquin Power & Utilities by 16.4% during the third quarter. Vanguard Group Inc. now owns 11,589,361 shares of the utilities provider’s stock valued at $120,066,000 after buying an additional 1,634,962 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Algonquin Power & Utilities by 11.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,719,969 shares of the utilities provider’s stock valued at $100,463,000 after buying an additional 973,106 shares in the last quarter. TD Asset Management Inc. lifted its stake in Algonquin Power & Utilities by 1.0% during the third quarter. TD Asset Management Inc. now owns 9,456,874 shares of the utilities provider’s stock valued at $97,744,000 after buying an additional 90,676 shares in the last quarter. Toronto Dominion Bank lifted its stake in Algonquin Power & Utilities by 3.3% during the third quarter. Toronto Dominion Bank now owns 7,259,140 shares of the utilities provider’s stock valued at $75,429,000 after buying an additional 230,361 shares in the last quarter. Finally, Pictet Asset Management Ltd. purchased a new stake in Algonquin Power & Utilities during the third quarter valued at about $71,985,000. 43.72% of the stock is owned by institutional investors.

AQN traded up $0.10 on Friday, reaching $10.69. The company had a trading volume of 458,800 shares, compared to its average volume of 190,179. Algonquin Power & Utilities has a one year low of $9.45 and a one year high of $11.23. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $5.00 billion, a PE ratio of 18.41, a P/E/G ratio of 1.61 and a beta of 0.77.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.10 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.10. Algonquin Power & Utilities had a net margin of 11.48% and a return on equity of 9.59%. The company had revenue of $366.50 million during the quarter, compared to the consensus estimate of $480.48 million. Algonquin Power & Utilities’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Algonquin Power & Utilities will post 0.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.256 per share. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $1.02 dividend on an annualized basis and a yield of 9.58%. Algonquin Power & Utilities’s dividend payout ratio is currently 87.93%.

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. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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