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

Algonquin Power & Utilities Corp. (NYSE:AQN) has been assigned an average broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One equities research 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% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 12 month consensus price target of $10.03 for the company and are predicting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also assigned Algonquin Power & Utilities Corp. an industry rank of 163 out of 265 based on the ratings given to related companies.

AQN has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Algonquin Power & Utilities Corp. from a “hold” rating to a “sell” rating in a report on Friday, March 24th. J P Morgan Chase & Co began coverage on shares of Algonquin Power & Utilities Corp. in a research note on Monday, February 27th. They issued a “neutral” rating for the company.

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Several institutional investors have recently bought and sold shares of AQN. TD Asset Management Inc. acquired a new position in Algonquin Power & Utilities Corp. during the first quarter worth approximately $78,908,000. Bank of Montreal Can boosted its position in Algonquin Power & Utilities Corp. by 66.2% in the first quarter. Bank of Montreal Can now owns 14,216,471 shares of the utilities provider’s stock valued at $136,194,000 after buying an additional 5,661,282 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its position in Algonquin Power & Utilities Corp. by 275.7% in the first quarter. Montrusco Bolton Investments Inc. now owns 7,045,132 shares of the utilities provider’s stock valued at $67,089,000 after buying an additional 5,169,692 shares in the last quarter. Vanguard Group Inc. boosted its position in Algonquin Power & Utilities Corp. by 45.5% in the first quarter. Vanguard Group Inc. now owns 7,327,996 shares of the utilities provider’s stock valued at $70,202,000 after buying an additional 2,291,517 shares in the last quarter. Finally, Barometer Capital Management Inc. boosted its position in Algonquin Power & Utilities Corp. by 109.5% in the first quarter. Barometer Capital Management Inc. now owns 3,185,783 shares of the utilities provider’s stock valued at $30,520,000 after buying an additional 1,664,783 shares in the last quarter. Institutional investors own 39.62% of the company’s stock.

Algonquin Power & Utilities Corp. (AQN) traded up 1.62% during midday trading on Friday, hitting $10.67. The stock had a trading volume of 51,624 shares. Algonquin Power & Utilities Corp. has a one year low of $7.75 and a one year high of $10.68. The stock’s 50-day moving average is $10.02 and its 200-day moving average is $9.23. The company has a market cap of $4.10 billion, a P/E ratio of 73.59 and a beta of 0.82.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid 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 4.37%. Algonquin Power & Utilities Corp.’s dividend payout ratio is 174.07%.

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