Algonquin Power & Utilities (NYSE:AQN) Sets New 12-Month Low – What’s Next?

Algonquin Power & Utilities Corp. (NYSE:AQNGet Free Report)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $4.71 and last traded at $4.73, with a volume of 28532 shares changing hands. The stock had previously closed at $4.74.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Raymond James cut shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $7.75 to $7.00 in a research report on Monday, August 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Janney Montgomery Scott assumed coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price target on the stock. Desjardins dropped their price objective on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Scotiabank reduced their target price on Algonquin Power & Utilities from $6.50 to $5.75 and set a “sector perform” rating on the stock in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Algonquin Power & Utilities presently has an average rating of “Hold” and a consensus price target of $6.23.

View Our Latest Stock Analysis on Algonquin Power & Utilities

Algonquin Power & Utilities Trading Down 0.2 %

The stock’s fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $5.76. The firm has a market cap of $3.67 billion, a PE ratio of 29.94 and a beta of 0.68. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last posted its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Algonquin Power & Utilities had a return on equity of 5.36% and a net margin of 4.70%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $635.95 million. During the same quarter in the prior year, the business posted $0.08 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.43 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Monday, September 30th. Algonquin Power & Utilities’s payout ratio is 162.50%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AQN. Krilogy Financial LLC lifted its position in Algonquin Power & Utilities by 0.3% in the 2nd quarter. Krilogy Financial LLC now owns 707,000 shares of the utilities provider’s stock valued at $4,143,000 after acquiring an additional 1,800 shares in the last quarter. Private Advisor Group LLC raised its position in Algonquin Power & Utilities by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after buying an additional 2,201 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in Algonquin Power & Utilities by 4.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 108,564 shares of the utilities provider’s stock valued at $636,000 after acquiring an additional 4,300 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Algonquin Power & Utilities by 25.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 5,863 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Algonquin Power & Utilities by 5.0% in the first quarter. Advisors Asset Management Inc. now owns 139,213 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 6,642 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Company Profile

(Get Free Report)

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.

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