Algonquin Power & Utilities Corp. (TSE:AQN) Receives C$7.08 Consensus Target Price from Analysts

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$6.25.

Several research analysts recently commented on AQN shares. Desjardins lowered their target price on Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Raymond James downgraded Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 12th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company downgraded shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at C$7.16 on Wednesday. Algonquin Power & Utilities has a 52-week low of C$6.75 and a 52-week high of C$10.42. The company’s 50 day moving average is C$8.10 and its two-hundred day moving average is C$8.28. The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48. The firm has a market cap of C$5.49 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 5.03%. Algonquin Power & Utilities’s dividend payout ratio is currently 163.64%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.