Zacks: Analysts Anticipate Algonquin Power & Utilities Corp (AQN) to Announce $0.13 Earnings Per Share

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Wall Street brokerages predict that Algonquin Power & Utilities Corp (NYSE:AQN) will report earnings of $0.13 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Algonquin Power & Utilities’ earnings, with estimates ranging from $0.12 to $0.15. Algonquin Power & Utilities posted earnings of $0.16 per share in the same quarter last year, which suggests a negative year over year growth rate of 18.8%. The firm is expected to report its next quarterly earnings report on Thursday, March 7th.

According to Zacks, analysts expect that Algonquin Power & Utilities will report full year earnings of $0.66 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.67. For the next fiscal year, analysts expect that the business will report earnings of $0.60 per share, with EPS estimates ranging from $0.58 to $0.61. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. Algonquin Power & Utilities had a return on equity of 9.59% and a net margin of 11.48%. The company had revenue of $366.50 million during the quarter, compared to analyst estimates of $480.48 million. The company’s quarterly revenue was up 3.6% on a year-over-year basis.

AQN has been the topic of several analyst reports. Zacks Investment Research lowered shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a report on Monday. Canaccord Genuity reissued a “buy” rating and issued a $11.50 price target on shares of Algonquin Power & Utilities in a research note on Tuesday, December 18th. National Bank Financial increased their price target on shares of Algonquin Power & Utilities from $10.50 to $11.00 and gave the company a “sector perform” rating in a research note on Monday, November 12th. Raymond James increased their price target on shares of Algonquin Power & Utilities from $12.50 to $13.00 and gave the company a “strong-buy” rating in a research note on Friday, December 7th. Finally, TD Securities increased their price target on shares of Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.75.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc lifted its holdings in Algonquin Power & Utilities by 16.4% during the 3rd quarter. Vanguard Group Inc now owns 11,589,361 shares of the utilities provider’s stock worth $120,066,000 after buying an additional 1,634,962 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at $6,403,000. TD Asset Management Inc. raised its holdings in shares of Algonquin Power & Utilities by 1.0% in the 3rd quarter. TD Asset Management Inc. now owns 9,456,874 shares of the utilities provider’s stock valued at $97,744,000 after purchasing an additional 90,676 shares in the last quarter. Signition LP acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at $235,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Algonquin Power & Utilities by 1,792.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,266,650 shares of the utilities provider’s stock valued at $33,763,000 after purchasing an additional 3,094,000 shares in the last quarter. 42.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Algonquin Power & Utilities stock traded down $0.04 on Wednesday, hitting $10.55. 23,748 shares of the company traded hands, compared to its average volume of 322,535. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.17. Algonquin Power & Utilities has a 52 week low of $9.45 and a 52 week high of $11.13. The company has a market capitalization of $5.04 billion, a PE ratio of 18.12, a P/E/G ratio of 1.73 and a beta of 0.71.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were given a dividend of $0.256 per share. The ex-dividend date was Friday, December 28th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 9.71%. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 87.93%.

Algonquin Power & Utilities Company Profile

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. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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