Algonquin Power & Utilities Corp. (AQN) Receives C$15.28 Average Target Price from Analysts

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) have received a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$15.33.

Several equities analysts have recently weighed in on the company. National Bank Financial lifted their price objective on Algonquin Power & Utilities from C$16.00 to C$16.50 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a C$16.00 price objective on shares of Algonquin Power & Utilities in a report on Wednesday. TD Securities lifted their price objective on Algonquin Power & Utilities from C$15.00 to C$16.00 in a report on Tuesday, October 24th. Raymond James Financial lifted their price objective on Algonquin Power & Utilities from C$15.00 to C$16.00 and gave the company a “strong-buy” rating in a report on Friday, August 11th. Finally, CIBC lifted their price objective on Algonquin Power & Utilities from C$15.50 to C$16.00 in a report on Monday, November 13th.

Shares of Algonquin Power & Utilities (AQN) traded up C$0.12 on Monday, reaching C$14.20. The company’s stock had a trading volume of 1,071,547 shares, compared to its average volume of 1,037,907. Algonquin Power & Utilities has a 12-month low of C$11.04 and a 12-month high of C$14.40.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.15 dividend. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.60 annualized dividend and a yield of 4.23%. Algonquin Power & Utilities’s payout ratio is presently 123.12%.

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Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. (APUC) is a Canada-based company engaged in owning and operating a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. APUC’s operations are organized across three business units consisting of Generation, Transmission and Distribution.

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

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