Algonquin Power & Utilities Corp. (AQN) to Post FY2018 Earnings of $0.56 Per Share, National Bank Financial Forecasts

Algonquin Power & Utilities Corp. (NYSE:AQN) – Analysts at National Bank Financial upped their FY2018 earnings estimates for shares of Algonquin Power & Utilities in a research report issued to clients and investors on Tuesday, April 17th. National Bank Financial analyst R. Merer now expects that the utilities provider will post earnings per share of $0.56 for the year, up from their prior estimate of $0.53.

Several other brokerages also recently issued reports on AQN. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. ValuEngine downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th.

Shares of NYSE:AQN opened at $9.86 on Friday. The stock has a market capitalization of $4,291.75, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.51 and a beta of 0.79. Algonquin Power & Utilities has a 52-week low of $9.39 and a 52-week high of $11.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 0.88.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The company had revenue of $412.14 million for the quarter, compared to the consensus estimate of $414.67 million. Algonquin Power & Utilities had a return on equity of 8.36% and a net margin of 9.82%.

Hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC acquired a new stake in Algonquin Power & Utilities during the third quarter worth about $111,000. Paloma Partners Management Co acquired a new stake in Algonquin Power & Utilities during the fourth quarter worth about $227,000. BlueCrest Capital Management Ltd acquired a new stake in Algonquin Power & Utilities during the fourth quarter worth about $255,000. Quadrature Capital Ltd acquired a new stake in Algonquin Power & Utilities during the fourth quarter worth about $496,000. Finally, Citadel Advisors LLC acquired a new stake in Algonquin Power & Utilities during the fourth quarter worth about $530,000. 38.60% of the stock is currently owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Thursday, March 29th were given a dividend of $0.116 per share. This represents a $0.46 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Wednesday, March 28th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 81.03%.

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About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates regulated and non-regulated generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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