Algonquin Power & Utilities (AQN) Stock Rating Lowered by Zacks Investment Research

Share on StockTwits

Zacks Investment Research lowered shares of Algonquin Power & Utilities (NYSE:AQN) from a hold rating to a sell rating in a research report released on Thursday, Zacks.com reports.

According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “

AQN has been the subject of a number of other research reports. Canaccord Genuity downgraded shares of Algonquin Power & Utilities from a buy rating to a hold rating in a research note on Friday, February 8th. Bank of America started coverage on shares of Algonquin Power & Utilities in a research note on Wednesday, February 27th. They issued a neutral rating and a $11.00 price objective for the company. Desjardins reissued a buy rating and issued a $13.00 price objective on shares of Algonquin Power & Utilities in a research note on Tuesday, April 23rd. Raymond James reissued a strong-buy rating and issued a $13.00 price objective on shares of Algonquin Power & Utilities in a research note on Friday, March 1st. Finally, TD Securities boosted their price objective on shares of Algonquin Power & Utilities from $12.00 to $12.50 and gave the stock a buy rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $12.13.

NYSE:AQN traded up $0.04 during trading hours on Thursday, reaching $11.63. The company’s stock had a trading volume of 10,960 shares, compared to its average volume of 370,780. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.22 and a beta of 0.74. Algonquin Power & Utilities has a 12 month low of $9.45 and a 12 month high of $11.71. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 1.03.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The business had revenue of $477.23 million during the quarter, compared to the consensus estimate of $498.08 million. Algonquin Power & Utilities had a return on equity of 7.64% and a net margin of 15.57%. On average, sell-side analysts expect that Algonquin Power & Utilities will post 0.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.142 per share. The ex-dividend date of this dividend is Thursday, June 27th. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.88%. Algonquin Power & Utilities’s dividend payout ratio is presently 77.27%.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Algonquin Power & Utilities by 67.3% during the third quarter. Bank of New York Mellon Corp now owns 166,525 shares of the utilities provider’s stock worth $1,726,000 after buying an additional 66,990 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Algonquin Power & Utilities by 16.9% during the third quarter. JPMorgan Chase & Co. now owns 131,895 shares of the utilities provider’s stock worth $1,366,000 after buying an additional 19,054 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Algonquin Power & Utilities during the third quarter worth about $6,403,000. Legal & General Group Plc boosted its holdings in Algonquin Power & Utilities by 8.0% during the third quarter. Legal & General Group Plc now owns 175,278 shares of the utilities provider’s stock worth $1,811,000 after buying an additional 12,916 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Algonquin Power & Utilities by 1.1% during the third quarter. Morgan Stanley now owns 1,452,496 shares of the utilities provider’s stock worth $15,048,000 after buying an additional 15,229 shares in the last quarter. 46.99% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

See Also: Why do companies pay special dividends?

Get a free copy of the Zacks research report on Algonquin Power & Utilities (AQN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Algonquin Power & Utilities (NYSE:AQN)

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

1&1 Drillisch  Given a €59.20 Price Target by Warburg Research Analysts
1&1 Drillisch Given a €59.20 Price Target by Warburg Research Analysts
Kepler Capital Markets Analysts Give ThyssenKrupp  a €20.00 Price Target
Kepler Capital Markets Analysts Give ThyssenKrupp a €20.00 Price Target
Aurubis  Given a €63.00 Price Target at Baader Bank
Aurubis Given a €63.00 Price Target at Baader Bank
Tucows  Raised to Buy at Echelon Wealth Partners
Tucows Raised to Buy at Echelon Wealth Partners
Q3 2019 Earnings Estimate for Huntington Bancshares Incorporated Issued By Jefferies Financial Group
Q3 2019 Earnings Estimate for Huntington Bancshares Incorporated Issued By Jefferies Financial Group
Q2 2019 EPS Estimates for IQIYI Inc  Raised by Analyst
Q2 2019 EPS Estimates for IQIYI Inc Raised by Analyst


© 2006-2019 Ticker Report