Brokerages expect Algonquin Power & Utilities Corp (NYSE:AQN) to report earnings per share (EPS) of $0.14 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Algonquin Power & Utilities’ earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.16. Algonquin Power & Utilities reported earnings of $0.10 per share in the same quarter last year, which would indicate a positive year over year growth rate of 40%. The company is expected to issue its next quarterly earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Algonquin Power & Utilities will report full year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.57 to $0.70. For the next year, analysts forecast that the business will report earnings of $0.66 per share, with EPS estimates ranging from $0.54 to $0.75. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Algonquin Power & Utilities.
Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Algonquin Power & Utilities had a return on equity of 7.57% and a net margin of 21.46%. The business had revenue of $343.58 million during the quarter, compared to analysts’ expectations of $372.40 million.
AQN has been the topic of several research reports. CIBC restated an “average” rating and set a $13.50 price objective on shares of Algonquin Power & Utilities in a report on Monday, August 12th. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Industrial Alliance Securities restated a “buy” rating on shares of Algonquin Power & Utilities in a report on Monday, August 12th. ValuEngine downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price objective on Algonquin Power & Utilities from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $13.11.
Hedge funds have recently modified their holdings of the company. Winslow Evans & Crocker Inc. acquired a new position in Algonquin Power & Utilities in the 2nd quarter worth $28,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Algonquin Power & Utilities during the 2nd quarter valued at about $34,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Algonquin Power & Utilities by 1,049.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock valued at $53,000 after buying an additional 3,957 shares during the last quarter. Comerica Bank grew its position in shares of Algonquin Power & Utilities by 9.6% during the 1st quarter. Comerica Bank now owns 10,978 shares of the utilities provider’s stock valued at $126,000 after buying an additional 963 shares during the last quarter. Finally, Csenge Advisory Group bought a new stake in shares of Algonquin Power & Utilities during the 2nd quarter valued at about $146,000. 46.82% of the stock is owned by institutional investors and hedge funds.
AQN traded up $0.03 during trading on Friday, hitting $13.33. 1,618 shares of the stock were exchanged, compared to its average volume of 303,060. The firm has a 50 day simple moving average of $12.80 and a 200 day simple moving average of $11.91. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 2.76 and a beta of 0.60. Algonquin Power & Utilities has a 1 year low of $9.63 and a 1 year high of $13.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.83 and a current ratio of 1.03.
The business 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 $0.142 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.57 annualized dividend and a dividend yield of 4.26%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 84.85%.
About Algonquin Power & Utilities
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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