Algonquin Power & Utilities Corp. (TSE:AQN – Get Free Report) has earned an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$6.25.
Several research analysts recently commented on the stock. Wells Fargo & Company lowered shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Desjardins decreased their price target on shares of Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Finally, Raymond James downgraded Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 12th.
Read Our Latest Analysis on Algonquin Power & Utilities
Algonquin Power & Utilities Stock Performance
Algonquin Power & Utilities Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.03%. Algonquin Power & Utilities’s payout ratio is currently 163.64%.
Algonquin Power & Utilities Company Profile
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.
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