Shares of Algonquin Power & Utilities Corp (NYSE:AQN) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.92.

AQN has been the subject of several recent analyst reports. TD Securities upped their target price on Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “buy” rating in a report on Wednesday, December 5th. Raymond James upped their target price on Algonquin Power & Utilities from $12.50 to $13.00 and gave the company a “strong-buy” rating in a report on Friday, December 7th. Zacks Investment Research lowered Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a report on Monday, January 14th. Canaccord Genuity lowered Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Finally, Bank of America initiated coverage on Algonquin Power & Utilities in a report on Wednesday, February 27th. They issued a “neutral” rating and a $11.00 target price for the company.

A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in Algonquin Power & Utilities by 4.7% in the fourth quarter. Bank of Montreal Can now owns 34,876,664 shares of the utilities provider’s stock valued at $350,511,000 after purchasing an additional 1,564,434 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Algonquin Power & Utilities by 27.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,341,610 shares of the utilities provider’s stock valued at $124,067,000 after purchasing an additional 2,621,641 shares during the last quarter. Vanguard Group Inc. lifted its stake in Algonquin Power & Utilities by 16.4% in the third quarter. Vanguard Group Inc. now owns 11,589,361 shares of the utilities provider’s stock valued at $120,066,000 after purchasing an additional 1,634,962 shares during the last quarter. Vanguard Group Inc lifted its stake in Algonquin Power & Utilities by 16.4% in the third quarter. Vanguard Group Inc now owns 11,589,361 shares of the utilities provider’s stock valued at $120,066,000 after purchasing an additional 1,634,962 shares during the last quarter. Finally, TD Asset Management Inc. lifted its stake in Algonquin Power & Utilities by 5.8% in the fourth quarter. TD Asset Management Inc. now owns 10,002,650 shares of the utilities provider’s stock valued at $100,554,000 after purchasing an additional 545,776 shares during the last quarter. Institutional investors and hedge funds own 46.25% of the company’s stock.

AQN stock opened at $11.22 on Friday. The company has a market capitalization of $5.50 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.99 and a quick ratio of 0.79. Algonquin Power & Utilities has a 12-month low of $9.45 and a 12-month high of $11.34.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.128 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.51 annualized dividend and a yield of 4.56%. Algonquin Power & Utilities’s payout ratio is 77.27%.

Algonquin Power & Utilities Company Profile

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. The company 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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