Algonquin Power & Utilities Corp. (NYSE:AQN – Get Rating) has received a consensus recommendation of "Hold" from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $11.00.
Several research analysts recently issued reports on the company. National Bank Financial cut Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating in a research note on Monday, November 14th. Desjardins cut Algonquin Power & Utilities from a "buy" rating to a "hold" rating in a research note on Monday, November 14th. TD Securities cut Algonquin Power & Utilities from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $13.00 to $10.00 in a research note on Monday, November 14th. Credit Suisse Group increased their price objective on Algonquin Power & Utilities from $10.75 to $11.00 and gave the stock an "outperform" rating in a research note on Friday, December 16th. Finally, National Bankshares dropped their price objective on Algonquin Power & Utilities from $13.50 to $12.50 and set a "sector perform" rating on the stock in a research note on Monday, November 14th.
Get Algonquin Power & Utilities alerts:Algonquin Power & Utilities Trading Down 3.0 %
AQN opened at $6.56 on Wednesday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 109.33, a P/E/G ratio of 3.27 and a beta of 0.44. The stock's 50 day moving average price is $8.54 and its 200-day moving average price is $11.55. Algonquin Power & Utilities has a one year low of $6.46 and a one year high of $16.01. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.56 and a current ratio of 0.72.
Algonquin Power & Utilities Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be given a $0.181 dividend. This is a boost from Algonquin Power & Utilities's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.04%. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently 1,200.00%.Institutional Trading of Algonquin Power & Utilities
Institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in Algonquin Power & Utilities by 138.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,507,328 shares of the utilities provider's stock worth $87,453,000 after acquiring an additional 3,775,700 shares during the last quarter. Bank of Nova Scotia raised its stake in Algonquin Power & Utilities by 34.2% in the 2nd quarter. Bank of Nova Scotia now owns 13,548,918 shares of the utilities provider's stock worth $182,094,000 after acquiring an additional 3,449,550 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Algonquin Power & Utilities by 237.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,369,900 shares of the utilities provider's stock worth $26,027,000 after acquiring an additional 1,667,500 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Algonquin Power & Utilities by 113.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,575,200 shares of the utilities provider's stock worth $39,967,000 after acquiring an additional 1,369,075 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Algonquin Power & Utilities by 10.6% in the 3rd quarter. Toronto Dominion Bank now owns 12,249,606 shares of the utilities provider's stock worth $171,714,000 after acquiring an additional 1,170,031 shares during the last quarter. Institutional investors and hedge funds own 41.26% of the company's stock.
About Algonquin Power & Utilities
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Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment operates a portfolio of rate-regulated utilities located in the United States, Canada, Chile, and Bermuda.
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