Algonquin Power & Utilities (NYSE:AQN) Research Coverage Started at TD Securities

TD Securities started coverage on shares of Algonquin Power & Utilities (NYSE:AQN) in a research report released on Thursday morning, The Fly reports. The brokerage issued a buy rating on the utilities provider’s stock.

AQN has been the topic of a number of other reports. Industrial Alliance Securities downgraded shares of Algonquin Power & Utilities to a buy rating and set a $19.00 target price on the stock. in a research report on Wednesday, October 9th. Royal Bank of Canada increased their target price on shares of Algonquin Power & Utilities from $12.00 to $13.00 and gave the company an outperform rating in a research report on Tuesday, August 13th. CIBC reaffirmed an average rating and issued a $13.50 target price on shares of Algonquin Power & Utilities in a research report on Monday, August 12th. Zacks Investment Research raised shares of Algonquin Power & Utilities from a sell rating to a hold rating in a research report on Monday, October 14th. Finally, ValuEngine downgraded shares of Algonquin Power & Utilities from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $13.78.

Shares of NYSE:AQN opened at $13.67 on Thursday. Algonquin Power & Utilities has a 52 week low of $9.67 and a 52 week high of $14.45. The company’s 50 day moving average is $13.53 and its two-hundred day moving average is $12.43. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 1.01. The company has a market cap of $7.04 billion, a PE ratio of 25.09, a P/E/G ratio of 2.66 and a beta of 0.58.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). Algonquin Power & Utilities had a net margin of 21.46% and a return on equity of 7.57%. The firm had revenue of $343.58 million during the quarter, compared to analysts’ expectations of $372.40 million. As a group, equities research analysts expect that Algonquin Power & Utilities will post 0.62 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.142 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 84.85%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. purchased a new position in shares of Algonquin Power & Utilities in the 2nd quarter valued at $28,000. Steward Partners Investment Advisory LLC purchased a new position in Algonquin Power & Utilities during the 2nd quarter worth $34,000. Ladenburg Thalmann Financial Services Inc. grew its position in Algonquin Power & Utilities by 1,049.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,957 shares during the last quarter. Csenge Advisory Group purchased a new position in Algonquin Power & Utilities during the 2nd quarter worth $146,000. Finally, Verity Asset Management Inc. grew its position in Algonquin Power & Utilities by 14.0% during the 2nd quarter. Verity Asset Management Inc. now owns 12,670 shares of the utilities provider’s stock worth $153,000 after purchasing an additional 1,557 shares during the last quarter. 45.94% of the stock is currently owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

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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