National Bank Financial upgraded shares of Algonquin Power & Utilities (TSE:AQN – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q3 2024 earnings at $0.15 EPS, FY2024 earnings at $0.64 EPS and FY2026 earnings at $0.62 EPS.
Separately, Desjardins cut their target price on Algonquin Power & Utilities from C$5.75 to C$5.50 and set a hold rating on the stock in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of C$7.08.
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Algonquin Power & Utilities Stock Up 0.3 %
Algonquin Power & Utilities Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 5.13%. Algonquin Power & Utilities’s payout ratio is currently -89.55%.
About Algonquin Power & Utilities
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.
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