Algonquin Power & Utilities (TSE:AQN) Downgraded to Hold at Wells Fargo & Company

Wells Fargo & Company lowered shares of Algonquin Power & Utilities (TSE:AQN) from a strong-buy rating to a hold rating in a research report report published on Monday, Zacks.com reports.

AQN has been the topic of several other reports. Desjardins dropped their price target on shares of Algonquin Power & Utilities from C$5.75 to C$5.50 and set a hold rating on the stock in a research note on Tuesday, April 30th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a hold rating to a strong-buy rating in a research report on Monday. Finally, Raymond James downgraded shares of Algonquin Power & Utilities from a moderate buy rating to a hold rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of C$7.08.

Algonquin Power & Utilities Stock Up 1.7 %

Shares of TSE AQN opened at C$7.14 on Monday. Algonquin Power & Utilities has a 12-month low of C$6.75 and a 12-month high of C$10.42. The stock has a market cap of C$4.92 billion, a P/E ratio of -10.66, a PEG ratio of 1.07 and a beta of 0.47. The company has a current ratio of 0.98, a quick ratio of 0.37 and a debt-to-equity ratio of 141.91. The business’s fifty day simple moving average is C$8.15 and its 200-day simple moving average is C$8.29.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio is presently -89.55%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.