Algonquin Power & Utilities Corp. (NYSE:AQN) has been given a consensus broker rating score of 2.25 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company.
Brokerages have set a 12-month consensus target price of $11.93 for the company and are forecasting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities an industry rank of 217 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut shares of Algonquin Power & Utilities from a “buy” rating to a “sell” rating in a research note on Tuesday, October 17th.
Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Tuesday, November 14th. The utilities provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. Algonquin Power & Utilities had a net margin of 10.20% and a return on equity of 8.30%. analysts anticipate that Algonquin Power & Utilities will post 0.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were paid a $0.1165 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.47 dividend on an annualized basis and a yield of 4.21%. Algonquin Power & Utilities’s payout ratio is presently 123.68%.
Hedge funds have recently made changes to their positions in the business. AGF Investments Inc. bought a new position in Algonquin Power & Utilities in the third quarter valued at approximately $10,397,000. Vanguard Group Inc. raised its holdings in Algonquin Power & Utilities by 5.6% in the second quarter. Vanguard Group Inc. now owns 7,738,993 shares of the utilities provider’s stock worth $81,570,000 after purchasing an additional 410,997 shares during the period. Montrusco Bolton Investments Inc. raised its holdings in Algonquin Power & Utilities by 18.6% in the third quarter. Montrusco Bolton Investments Inc. now owns 7,689,672 shares of the utilities provider’s stock worth $81,099,000 after purchasing an additional 1,205,668 shares during the period. Ninepoint Partners LP acquired a new stake in Algonquin Power & Utilities in the third quarter worth $438,000. Finally, UBS Asset Management Americas Inc. raised its holdings in Algonquin Power & Utilities by 114.0% in the second quarter. UBS Asset Management Americas Inc. now owns 129,365 shares of the utilities provider’s stock worth $1,360,000 after purchasing an additional 68,900 shares during the period. 36.83% of the stock is currently owned by hedge funds and other institutional investors.
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Algonquin Power & Utilities Company Profile
Algonquin Power & Utilities Corp., through its subsidiaries, engages in the generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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