Algonquin Power & Utilities (NYSE:AQN) Upgraded at Desjardins

Desjardins upgraded shares of Algonquin Power & Utilities (NYSE:AQN) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Marketbeat reports. The firm currently has $6.25 price target on the utilities provider’s stock, up from their prior price target of $6.00. Desjardins also issued estimates for Algonquin Power & Utilities’ FY2026 earnings at $0.36 EPS and FY2027 earnings at $0.44 EPS.

A number of other research firms have also weighed in on AQN. National Bankshares lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $6.75 target price for the company. in a report on Wednesday, June 4th. Raymond James Financial increased their price target on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 4th. Scotiabank increased their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research note on Wednesday, June 4th. TD Securities raised shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, August 11th. Finally, CIBC increased their price target on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.36.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at $5.79 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average of $5.70 and a 200-day moving average of $5.58. The firm has a market cap of $4.44 billion, a P/E ratio of -3.21 and a beta of 0.72. Algonquin Power & Utilities has a 1-year low of $4.19 and a 1-year high of $6.24.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $535.59 million during the quarter, compared to analyst estimates of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same period in the prior year, the business posted $0.09 earnings per share. Sell-side analysts expect that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, September 29th. Algonquin Power & Utilities’s payout ratio is presently -14.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming bought a new position in shares of Algonquin Power & Utilities during the second quarter valued at $120,000. Public Sector Pension Investment Board lifted its holdings in shares of Algonquin Power & Utilities by 2.5% during the second quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock valued at $424,000 after purchasing an additional 1,800 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Algonquin Power & Utilities by 46.7% during the second quarter. CANADA LIFE ASSURANCE Co now owns 406,516 shares of the utilities provider’s stock valued at $2,314,000 after purchasing an additional 129,447 shares in the last quarter. Vident Advisory LLC bought a new position in shares of Algonquin Power & Utilities during the second quarter valued at $114,000. Finally, Tidal Investments LLC lifted its holdings in shares of Algonquin Power & Utilities by 197.5% during the second quarter. Tidal Investments LLC now owns 218,189 shares of the utilities provider’s stock valued at $1,250,000 after purchasing an additional 144,855 shares in the last quarter. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.