Algonquin Power & Utilities (TSE:AQN) Announces Earnings Results

Algonquin Power & Utilities (TSE:AQN) released its quarterly earnings results on Friday. The company reported C$0.16 EPS for the quarter, FiscalAI reports. The business had revenue of C$914.68 million for the quarter. Algonquin Power & Utilities had a net margin of 5.86% and a return on equity of 3.20%.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock traded down C$0.08 during mid-day trading on Friday, hitting C$7.80. 10,979,822 shares of the company’s stock traded hands, compared to its average volume of 2,589,656. The firm has a 50 day simple moving average of C$7.47 and a two-hundred day simple moving average of C$8.25. The stock has a market cap of C$6.01 billion, a price-to-earnings ratio of 43.33, a P/E/G ratio of 1.07 and a beta of 1.12. Algonquin Power & Utilities has a fifty-two week low of C$6.96 and a fifty-two week high of C$9.69. The company has a debt-to-equity ratio of 143.60, a current ratio of 0.88 and a quick ratio of 0.37.

Analysts Set New Price Targets

Separately, Canadian Imperial Bank of Commerce cut their price target on shares of Algonquin Power & Utilities from C$6.25 to C$6.00 in a research report on Tuesday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$7.33.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.