$0.20 EPS Expected for Algonquin Power & Utilities Corp (AQN) This Quarter

Equities analysts predict that Algonquin Power & Utilities Corp (NYSE:AQN) will announce $0.20 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Algonquin Power & Utilities’ earnings, with estimates ranging from $0.11 to $0.25. Algonquin Power & Utilities posted earnings of $0.32 per share in the same quarter last year, which suggests a negative year over year growth rate of 37.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, May 9th.

On average, analysts expect that Algonquin Power & Utilities will report full year earnings of $0.67 per share for the current year, with EPS estimates ranging from $0.60 to $0.76. For the next financial year, analysts anticipate that the business will post earnings of $0.72 per share, with EPS estimates ranging from $0.60 to $0.81. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, February 28th. The utilities provider reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $419.90 million during the quarter, compared to analyst estimates of $414.08 million. Algonquin Power & Utilities had a return on equity of 9.35% and a net margin of 11.23%.

A number of equities research analysts have weighed in on AQN shares. Raymond James reaffirmed a “strong-buy” rating and set a $13.00 target price on shares of Algonquin Power & Utilities in a research report on Friday, March 1st. TD Securities lifted their target price on Algonquin Power & Utilities from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Monday, March 4th. Canaccord Genuity lowered Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Bank of America started coverage on Algonquin Power & Utilities in a research report on Wednesday, February 27th. They set a “neutral” rating and a $11.00 target price for the company. Finally, Zacks Investment Research lowered Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $11.86.

Several large investors have recently made changes to their positions in AQN. Advisor Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 48.3% in the 4th quarter. Advisor Group Inc. now owns 8,906 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 2,899 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $135,000. MML Investors Services LLC increased its holdings in shares of Algonquin Power & Utilities by 11.7% in the 4th quarter. MML Investors Services LLC now owns 14,938 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 1,566 shares during the period. Corrado Advisors LLC purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at $165,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $166,000. Institutional investors and hedge funds own 45.46% of the company’s stock.

Shares of NYSE AQN opened at $11.47 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.99 and a quick ratio of 0.79. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.66 and a beta of 0.75. Algonquin Power & Utilities has a twelve month low of $9.45 and a twelve month high of $11.60.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.128 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.46%. Algonquin Power & Utilities’s dividend payout ratio is presently 77.27%.

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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