Brokerages Anticipate Algonquin Power & Utilities Corp. (AQN) to Announce $0.10 EPS

Brokerages Anticipate Algonquin Power & Utilities Corp. (AQN) to Announce $0.10 EPS

Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have been assigned a consensus broker rating score of 2.00 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Algonquin Power & Utilities Corp.’s rating score has declined by 33.3% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 1-year consensus price target of $10.03 for the company and are anticipating that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities Corp. an industry rank of 179 out of 265 based on the ratings given to related companies.

Several research firms recently issued reports on AQN. JPMorgan Chase & Co. began coverage on shares of Algonquin Power & Utilities Corp. in a report on Monday, February 27th. They issued a “neutral” rating on the stock. Zacks Investment Research cut shares of Algonquin Power & Utilities Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th.

Algonquin Power & Utilities Corp. (AQN) traded up 0.86% on Thursday, hitting $10.50. 65,211 shares of the company were exchanged. The stock has a market cap of $4.04 billion, a PE ratio of 72.92 and a beta of 0.82. The firm has a 50 day moving average of $9.81 and a 200-day moving average of $9.08. Algonquin Power & Utilities Corp. has a 52-week low of $7.75 and a 52-week high of $10.57.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.1165 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.44%. Algonquin Power & Utilities Corp.’s dividend payout ratio (DPR) is 140.00%.

Hedge funds have recently modified their holdings of the company. Davis Rea LTD. acquired a new stake in shares of Algonquin Power & Utilities Corp. during the first quarter worth $123,000. KCG Holdings Inc. boosted its stake in shares of Algonquin Power & Utilities Corp. by 21.3% in the first quarter. KCG Holdings Inc. now owns 13,032 shares of the utilities provider’s stock worth $124,000 after buying an additional 2,288 shares during the period. Morris Capital Advisors LLC boosted its stake in shares of Algonquin Power & Utilities Corp. by 7.4% in the first quarter. Morris Capital Advisors LLC now owns 18,679 shares of the utilities provider’s stock worth $179,000 after buying an additional 1,280 shares during the period. Jane Street Group LLC acquired a new stake in shares of Algonquin Power & Utilities Corp. during the first quarter worth $214,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Algonquin Power & Utilities Corp. by 174.2% in the first quarter. Bank of New York Mellon Corp now owns 28,915 shares of the utilities provider’s stock worth $277,000 after buying an additional 18,369 shares during the period. 7.55% of the stock is currently owned by institutional investors.

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