Algonquin Power & Utilities (NYSE:AQN) Cut to “C+” at TheStreet

TheStreet downgraded shares of Algonquin Power & Utilities (NYSE:AQN) from a b- rating to a c+ rating in a research note issued to investors on Tuesday morning, TheStreetRatingsTable reports.

AQN has been the subject of several other research reports. Scotiabank lowered shares of Algonquin Power & Utilities from an outperform rating to a sector perform rating in a report on Wednesday, December 4th. Morgan Stanley lowered shares of Algonquin Power & Utilities from an overweight rating to an equal weight rating and lowered their target price for the stock from $17.00 to $15.50 in a report on Tuesday, March 10th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a sector perform rating to an outperform rating and set a $14.00 target price for the company in a report on Friday, March 13th. Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a sell rating to a hold rating and set a $17.00 target price for the company in a report on Tuesday, February 4th. Finally, TD Securities raised their target price on shares of Algonquin Power & Utilities from $16.00 to $17.00 and gave the stock a buy rating in a report on Monday, March 2nd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $15.42.

Algonquin Power & Utilities stock opened at $12.93 on Tuesday. The firm has a 50-day moving average price of $14.76 and a 200-day moving average price of $14.20. The firm has a market capitalization of $6.31 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 0.88. Algonquin Power & Utilities has a 12-month low of $9.53 and a 12-month high of $16.85.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Thursday, February 27th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $439.70 million during the quarter, compared to analyst estimates of $443.87 million. Algonquin Power & Utilities had a net margin of 32.65% and a return on equity of 8.42%. As a group, sell-side analysts predict that Algonquin Power & Utilities will post 0.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.141 dividend. This represents a $0.56 annualized dividend and a yield of 4.36%. The ex-dividend date is Monday, March 30th. Algonquin Power & Utilities’s dividend payout ratio is presently 88.89%.

A number of hedge funds have recently bought and sold shares of AQN. Fieldpoint Private Securities LLC increased its stake in Algonquin Power & Utilities by 56.7% in the 4th quarter. Fieldpoint Private Securities LLC now owns 4,286 shares of the utilities provider’s stock worth $61,000 after buying an additional 1,551 shares during the period. 1832 Asset Management L.P. increased its stake in Algonquin Power & Utilities by 87.7% in the 4th quarter. 1832 Asset Management L.P. now owns 5,316 shares of the utilities provider’s stock worth $75,000 after buying an additional 2,484 shares during the period. Tower Research Capital LLC TRC increased its stake in Algonquin Power & Utilities by 12.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,451 shares of the utilities provider’s stock worth $147,000 after buying an additional 1,180 shares during the period. FIL Ltd purchased a new position in Algonquin Power & Utilities in the 4th quarter worth about $169,000. Finally, Csenge Advisory Group increased its stake in Algonquin Power & Utilities by 13.0% in the 4th quarter. Csenge Advisory Group now owns 13,124 shares of the utilities provider’s stock worth $186,000 after buying an additional 1,513 shares during the period. 43.06% of the stock is currently owned by institutional investors.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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

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