The stock of Algonquin Power & Utilities Corp. (NYSE:AQN) last traded at $7.40, up 0.68% from the previous session.
Data from the available sources indicates that Algonquin Power & Utilities Corp. (NYSE:AQN) is covered by 13 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $6.50, we find $9.00. Given the previous closing price of $7.35, this indicates a potential upside of 22.45 percent. AQN stock price is now -7.61% away from the 50-day moving average and -6.97% away from the 200-day moving average. The market capitalization of the company currently stands at $6.85B.
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In total, 8 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $8.92 as their price target over the next twelve months.
With the price target reduced from $9 to $8.50, BofA Securities Downgraded its rating from Buy to Neutral for Algonquin Power & Utilities Corp. (NYSE: AQN).
A total of 0.07% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AQN stock. A new stake in Algonquin Power & Utilities Corp. shares was purchased by STARBOARD VALUE LP during the first quarter worth $252,626,000. AVIVA PLC invested $12,818,000 in shares of AQN during the first quarter. In the first quarter, WHITEBOX ADVISORS LLC acquired a new stake in Algonquin Power & Utilities Corp. valued at approximately $6,993,000. CARLSON CAPITAL L P acquired a new stake in AQN for approximately $6,216,000. M&G INVESTMENT MANAGEMENT LTD purchased a new stake in AQN valued at around $5,171,000 in the second quarter. In total, there are 486 active investors with 63.06% ownership of the company’s stock.
With an opening price of $7.40 on Wednesday morning, Algonquin Power & Utilities Corp. (NYSE: AQN) set off the trading day. During the past 12 months, Algonquin Power & Utilities Corp. has had a low of $6.41 and a high of $14.45. As of last week, the company has a debt-to-equity ratio of 1.62, a current ratio of 0.70, and a quick ratio of 0.60. The fifty day moving average price for AQN is $7.99 and a two-hundred day moving average price translates $7.94 for the stock.
The latest earnings results from Algonquin Power & Utilities Corp. (NYSE: AQN) was released for Jun, 2023. According to the Utilities – Renewable Company, earnings per share came in at $0.08, missing analysts’ expectations of $0.11 by -0.03. This compares to -$0.05 EPS in the same period last year. The net profit margin was -9.30% and return on equity was -5.10% for AQN. The company reported revenue of $627.87 million for the quarter, compared to $619.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.37 percent. For the current quarter, analysts expect AQN to generate $673.67M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/13/2023. Investors who held shares on 09/28/2023 were paid a $0.1085 dividend. On an annualized basis, this represents a $0.58 dividend and a 7.89% percent yield. There was an ex-dividend date of 09/27/2023 for this dividend.
