Algonquin Power & Utilities Corp. (NYSE:AQN) has been given an average broker rating score of 2.25 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company.
Brokerages have set a 12 month consensus price objective of $11.79 for the company and are anticipating that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also given Algonquin Power & Utilities an industry rank of 169 out of 265 based on the ratings given to its competitors.
Several analysts have issued reports on AQN shares. Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, January 12th. ValuEngine lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th.
Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $412.14 million for the quarter, compared to analyst estimates of $414.67 million. Algonquin Power & Utilities had a net margin of 9.82% and a return on equity of 8.36%. research analysts forecast that Algonquin Power & Utilities will post 0.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.116 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Wednesday, March 28th. Algonquin Power & Utilities’s payout ratio is 81.03%.
Large investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth about $111,000. Paloma Partners Management Co bought a new position in shares of Algonquin Power & Utilities during the 4th quarter worth about $227,000. BlueCrest Capital Management Ltd bought a new position in shares of Algonquin Power & Utilities during the 4th quarter worth about $255,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth about $363,000. Finally, Quadrature Capital Ltd bought a new position in shares of Algonquin Power & Utilities during the 4th quarter worth about $496,000. 38.58% of the stock is owned by 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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