Algonquin Power & Utilities Corp (TSE:AQN) has been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$15.42.
A number of research analysts have commented on AQN shares. TD Securities reduced their price objective on Algonquin Power & Utilities from C$16.00 to C$15.50 and set a “buy” rating on the stock in a research note on Monday, March 5th. National Bank Financial reduced their price objective on Algonquin Power & Utilities from C$15.50 to C$15.00 and set an “outperform” rating on the stock in a research note on Monday, March 5th. Raymond James boosted their price objective on Algonquin Power & Utilities from C$16.00 to C$16.50 and gave the stock a “strong-buy” rating in a research note on Wednesday, March 14th. Desjardins boosted their price objective on Algonquin Power & Utilities from C$15.50 to C$15.75 in a research note on Wednesday, April 18th. Finally, BMO Capital Markets set a C$15.50 price objective on Algonquin Power & Utilities and gave the stock an “outperform” rating in a research note on Wednesday, April 18th.
In other Algonquin Power & Utilities news, Director Masheed Hegi Saidi purchased 7,700 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were acquired at an average price of C$9.63 per share, for a total transaction of C$74,151.00.
Shares of Algonquin Power & Utilities traded up C$0.01, reaching C$12.85, during midday trading on Friday, according to MarketBeat Ratings. 1,022,999 shares of the company were exchanged, compared to its average volume of 1,188,559. Algonquin Power & Utilities has a 1-year low of C$12.18 and a 1-year high of C$14.40.
Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings data on Thursday, May 10th. The company reported C$0.41 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.25 by C$0.16. The company had revenue of C$625.54 million for the quarter, compared to analysts’ expectations of C$571.20 million. Algonquin Power & Utilities had a return on equity of 8.59% and a net margin of 11.03%.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be paid a $0.165 dividend. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, June 28th. This represents a $0.66 annualized dividend and a dividend yield of 5.14%.
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. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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