Algonquin Power & Utilities (NYSE:AQN) Issues Earnings Results, Meets Estimates

Algonquin Power & Utilities (NYSE:AQNGet Rating) announced its quarterly earnings data on Thursday. The utilities provider reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21, MarketWatch Earnings reports. Algonquin Power & Utilities had a net margin of 11.59% and a return on equity of 6.97%. The firm had revenue of $735.70 million for the quarter, compared to the consensus estimate of $709.61 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis.

Shares of AQN stock opened at $14.10 on Friday. Algonquin Power & Utilities has a 1 year low of $13.26 and a 1 year high of $16.25. The firm’s fifty day simple moving average is $15.03 and its 200 day simple moving average is $14.43. The firm has a market capitalization of $9.50 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.81.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.363 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.45 dividend on an annualized basis and a yield of 10.30%. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.17. Algonquin Power & Utilities’s payout ratio is 133.34%.

Hedge funds have recently made changes to their positions in the stock. Comerica Bank increased its holdings in Algonquin Power & Utilities by 9.8% in the 4th quarter. Comerica Bank now owns 12,696 shares of the utilities provider’s stock valued at $174,000 after buying an additional 1,132 shares during the period. LPL Financial LLC bought a new stake in Algonquin Power & Utilities in the 3rd quarter valued at $180,000. Raymond James Trust N.A. increased its holdings in Algonquin Power & Utilities by 12.9% in the 1st quarter. Raymond James Trust N.A. now owns 12,676 shares of the utilities provider’s stock valued at $197,000 after buying an additional 1,450 shares during the period. SVB Wealth LLC bought a new stake in Algonquin Power & Utilities in the 1st quarter valued at $232,000. Finally, Private Advisor Group LLC bought a new stake in Algonquin Power & Utilities in the 1st quarter valued at $250,000. 45.25% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on AQN shares. National Bankshares downgraded shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, May 4th. Zacks Investment Research cut shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. StockNews.com began coverage on shares of Algonquin Power & Utilities in a research note on Thursday, March 31st. They issued a “sell” rating for the company. National Bank Financial cut shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 target price for the company. in a research note on Wednesday, May 4th. Finally, Raymond James reduced their target price on shares of Algonquin Power & Utilities from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.56.

Algonquin Power & Utilities Company Profile (Get Rating)

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, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.

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Earnings History for Algonquin Power & Utilities (NYSE:AQN)

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