Algonquin Power & Utilities (NYSE:AQN) Price Target Raised to $15.00

Algonquin Power & Utilities (NYSE:AQN) had its price objective upped by TD Securities from $14.50 to $15.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have a buy rating on the utilities provider’s stock.

Several other research firms also recently commented on AQN. Raymond James reiterated a strong-buy rating and set a $16.00 price objective on shares of Algonquin Power & Utilities in a research note on Friday, November 8th. CIBC set a $14.30 price objective on shares of Algonquin Power & Utilities and gave the stock a buy rating in a research note on Tuesday, October 15th. Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a sell rating to a hold rating in a research note on Tuesday, October 22nd. ValuEngine downgraded shares of Algonquin Power & Utilities from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Industrial Alliance Securities downgraded shares of Algonquin Power & Utilities to a buy rating and set a $19.00 price objective for the company. in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $14.08.

Shares of NYSE:AQN traded up $0.18 on Monday, hitting $13.77. 1,179,712 shares of the company were exchanged, compared to its average volume of 462,600. Algonquin Power & Utilities has a 1-year low of $9.67 and a 1-year high of $14.45. The stock’s 50 day moving average price is $13.69 and its 200 day moving average price is $12.72. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $7.06 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Algonquin Power & Utilities had a net margin of 25.08% and a return on equity of 8.02%. The business had revenue of $365.60 million during the quarter, compared to the consensus estimate of $405.41 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts predict that Algonquin Power & Utilities will post 0.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.141 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.56 dividend on an annualized basis and a yield of 4.10%. Algonquin Power & Utilities’s dividend payout ratio is presently 84.85%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. purchased a new position in shares of Algonquin Power & Utilities in the 2nd quarter valued at about $9,997,000. Corrado Advisors LLC boosted its position in shares of Algonquin Power & Utilities by 83.4% in the second quarter. Corrado Advisors LLC now owns 26,884 shares of the utilities provider’s stock worth $326,000 after acquiring an additional 12,225 shares during the last quarter. Naples Global Advisors LLC boosted its position in shares of Algonquin Power & Utilities by 7.9% in the second quarter. Naples Global Advisors LLC now owns 199,130 shares of the utilities provider’s stock worth $2,411,000 after acquiring an additional 14,650 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its position in shares of Algonquin Power & Utilities by 27.7% in the second quarter. Campbell & CO Investment Adviser LLC now owns 43,012 shares of the utilities provider’s stock worth $521,000 after acquiring an additional 9,340 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in shares of Algonquin Power & Utilities in the second quarter worth approximately $279,000. Institutional investors own 44.26% of the company’s stock.

About Algonquin Power & Utilities

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.

Further Reading: Equal Weight Rating

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

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