Algonquin Power & Utilities Corp. (NYSE:AQN – Get Free Report) shares were up 5.1% on Monday following a dividend announcement from the company. The company traded as high as $5.05 and last traded at $5.05. Approximately 1,769,131 shares were traded during trading, a decline of 82% from the average daily volume of 9,869,715 shares. The stock had previously closed at $4.80.
The newly announced dividend which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities’s dividend payout ratio is -14.44%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on AQN shares. National Bankshares decreased their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Scotiabank raised their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.00.
Read Our Latest Analysis on Algonquin Power & Utilities
Algonquin Power & Utilities Price Performance
The stock has a market capitalization of $3.75 billion, a P/E ratio of -3.79 and a beta of 0.71. The company’s 50 day simple moving average is $4.59 and its two-hundred day simple moving average is $4.86. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73.
Algonquin Power & Utilities (NYSE:AQN – Get Free Report) last released its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business had revenue of $584.80 million for the quarter, compared to the consensus estimate of $644.73 million. As a group, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.
Institutional Trading of Algonquin Power & Utilities
Several large investors have recently made changes to their positions in AQN. Capstone Investment Advisors LLC bought a new position in shares of Algonquin Power & Utilities in the third quarter valued at about $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth approximately $59,000. SVB Wealth LLC acquired a new position in shares of Algonquin Power & Utilities during the fourth quarter worth approximately $49,000. Verdence Capital Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the third quarter valued at approximately $61,000. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at approximately $58,000. Institutional investors own 62.28% of the company’s stock.
About Algonquin Power & Utilities
Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.
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