Algonquin Power & Utilities (TSE:AQN) Upgraded to Hold by Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities (TSE:AQN) to a hold rating in a report issued on Thursday morning, Zacks.com reports.

A number of other brokerages have also weighed in on AQN. National Bank Financial raised Algonquin Power & Utilities from a hold rating to a strong-buy rating in a research note on Monday, August 12th. Raymond James downgraded Algonquin Power & Utilities from a moderate buy rating to a hold rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company cut Algonquin Power & Utilities from a strong-buy rating to a hold rating in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of C$6.25.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at C$7.13 on Thursday. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97. Algonquin Power & Utilities has a fifty-two week low of C$6.75 and a fifty-two week high of C$10.17. The stock has a fifty day moving average of C$7.91 and a two-hundred day moving average of C$8.22. The company has a market capitalization of C$5.47 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, August 9th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.11 by C$0.01. The company had revenue of C$819.06 million for the quarter, compared to analysts’ expectations of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%. On average, analysts anticipate that Algonquin Power & Utilities will post 0.642355 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.05%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 163.64%.

Algonquin Power & Utilities Company Profile

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.