Zacks: Algonquin Power & Utilities Corp. (AQN) Given $11.93 Consensus Target Price by Brokerages

Algonquin Power & Utilities Corp. (NYSE:AQN) has earned a consensus broker rating score of 2.25 (Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company.

Brokers have set a 1-year consensus price objective of $11.93 for the company and are forecasting that the company will post $0.13 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities an industry rank of 218 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research cut shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Monday, September 11th.

Several institutional investors have recently made changes to their positions in AQN. Bank of New York Mellon Corp boosted its stake in shares of Algonquin Power & Utilities by 19.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 34,415 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 5,500 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Algonquin Power & Utilities by 36.8% in the 2nd quarter. Legal & General Group Plc now owns 47,829 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 12,877 shares in the last quarter. Swiss National Bank boosted its stake in shares of Algonquin Power & Utilities by 60.4% in the 2nd quarter. Swiss National Bank now owns 621,100 shares of the utilities provider’s stock valued at $6,539,000 after purchasing an additional 234,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Algonquin Power & Utilities by 49,597.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 432,370 shares of the utilities provider’s stock valued at $4,557,000 after purchasing an additional 431,500 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Algonquin Power & Utilities by 46.3% in the 2nd quarter. Wells Fargo & Company MN now owns 302,860 shares of the utilities provider’s stock valued at $3,192,000 after purchasing an additional 95,900 shares in the last quarter. 36.83% of the stock is owned by institutional investors.

Shares of Algonquin Power & Utilities (NYSE:AQN) traded down $0.34 during trading on Friday, hitting $10.78. 188,403 shares of the stock were exchanged, compared to its average volume of 140,300. Algonquin Power & Utilities has a 12 month low of $8.40 and a 12 month high of $11.34. The stock has a market cap of $4,300.00, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.28 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 0.94 and a debt-to-equity ratio of 1.32.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.1165 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.32%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 117.50%.

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About Algonquin Power & Utilities

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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