Algonquin Power & Utilities Corp. (NYSE:AQN) Receives $6.77 Average Price Target from Analysts

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.7727.

Several brokerages recently commented on AQN. Desjardins dropped their target price on Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Canadian Imperial Bank of Commerce boosted their target price on Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a report on Monday, April 20th. Wells Fargo & Company began coverage on Algonquin Power & Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 target price on the stock. Barclays began coverage on Algonquin Power & Utilities in a report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 target price on the stock. Finally, TD Cowen dropped their target price on Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a report on Monday, March 9th.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN opened at $5.90 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 1.26. The stock has a 50 day simple moving average of $6.16 and a 200-day simple moving average of $6.27. The company has a market cap of $4.54 billion, a PE ratio of 26.80 and a beta of 0.74. Algonquin Power & Utilities has a 12-month low of $5.32 and a 12-month high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.The firm had revenue of $713.69 million for the quarter, compared to analysts’ expectations of $713.69 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. On average, equities research analysts forecast that Algonquin Power & Utilities will post 0.36 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.4%. Algonquin Power & Utilities’s payout ratio is presently 118.18%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 3.3% in the third quarter. Vanguard Group Inc. now owns 33,744,586 shares of the utilities provider’s stock valued at $181,377,000 after buying an additional 1,086,040 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Algonquin Power & Utilities by 77.7% in the third quarter. Quantbot Technologies LP now owns 398,318 shares of the utilities provider’s stock valued at $2,139,000 after buying an additional 174,118 shares in the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Algonquin Power & Utilities by 2.4% in the third quarter. Cidel Asset Management Inc. now owns 3,253,612 shares of the utilities provider’s stock valued at $17,491,000 after buying an additional 75,266 shares in the last quarter. ARS Investment Partners LLC increased its holdings in shares of Algonquin Power & Utilities by 29.6% in the fourth quarter. ARS Investment Partners LLC now owns 863,660 shares of the utilities provider’s stock valued at $5,312,000 after buying an additional 197,490 shares in the last quarter. Finally, Callodine Capital Management LP increased its holdings in shares of Algonquin Power & Utilities by 15.3% in the third quarter. Callodine Capital Management LP now owns 5,581,841 shares of the utilities provider’s stock valued at $29,974,000 after buying an additional 740,872 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.