Algonquin Power & Utilities Corp. (NYSE:AQN) Stock Has Average Price Target of $6.66

Algonquin Power & Utilities Corp. (NYSE:AQN) has earned an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $6.66.

Several equities analysts have commented on the company. Huntington initiated coverage on Algonquin Power & Utilities in a report on Monday, September 14th. They issued an “outperform” rating and a $7.00 price target for the company. Weiss Ratings lowered Algonquin Power & Utilities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. TD set a $6.00 price objective on Algonquin Power & Utilities and gave the stock a “hold” rating in a report on Monday, August 31st. Barclays lowered their price objective on Algonquin Power & Utilities from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. Finally, National Bank Financial set a $7.00 price objective on Algonquin Power & Utilities and gave the company an “outperform” rating in a research report on Tuesday, September 1st.

Institutional Trading of Algonquin Power & Utilities

Large investors have recently bought and sold shares of the stock. Bank of Nova Scotia bought a new position in shares of Algonquin Power & Utilities during the second quarter valued at $46,703,000. Legal & General Group Plc bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth about $37,553,000. The Manufacturers Life Insurance Company bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth about $26,260,000. Bank of America Corp DE acquired a new stake in shares of Algonquin Power & Utilities during the 2nd quarter worth about $21,608,000. Finally, Man Group plc acquired a new stake in shares of Algonquin Power & Utilities during the 2nd quarter worth about $20,690,000. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Stock Up 1.5%

NYSE AQN opened at $5.24 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.69 and a current ratio of 0.88. The firm has a 50-day simple moving average of $5.40 and a 200 day simple moving average of $5.77. Algonquin Power & Utilities has a twelve month low of $4.91 and a twelve month high of $7.11. The stock has a market cap of $4.03 billion, a PE ratio of 27.55 and a beta of 0.72.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%. The firm had revenue of $582.99 million for the quarter, compared to analyst estimates of $582.99 million. During the same period last year, the business earned $0.04 earnings per share. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. On average, research analysts forecast that Algonquin Power & Utilities will post 0.35 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 29th were paid a $0.0650 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $0.26 dividend on an annualized basis and a yield of 5.0%. Algonquin Power & Utilities’s payout ratio is presently 136.84%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is a Canadian utility company that owns and operates regulated electric, natural gas and water distribution businesses. Through its Liberty operating brands, the company provides essential utility services to residential, commercial and industrial customers in communities across the United States and Canada.

The company’s regulated utility operations include electricity distribution and generation, natural gas distribution, and water and wastewater services.