Algonquin Power & Utilities (NYSE:AQN) Releases Earnings Results, Beats Estimates By $0.02 EPS

Algonquin Power & Utilities (NYSE:AQNGet Free Report) announced its earnings results on Friday. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02, reports. Algonquin Power & Utilities had a positive return on equity of 6.13% and a negative net margin of 8.35%. The business had revenue of $666.90 million for the quarter, compared to analyst estimates of $661.73 million. During the same quarter last year, the firm earned $0.22 EPS. Algonquin Power & Utilities’s revenue for the quarter was down 10.8% compared to the same quarter last year.

Algonquin Power & Utilities Stock Performance

AQN opened at $6.41 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.66 and a debt-to-equity ratio of 1.22. Algonquin Power & Utilities has a 12-month low of $4.90 and a 12-month high of $9.14. The business has a 50 day moving average of $6.05 and a 200-day moving average of $6.17. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 213.67 and a beta of 0.66.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.1085 per share. This represents a $0.43 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 1,433.33%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the company a “sector perform” rating in a report on Wednesday, January 24th. CIBC boosted their price target on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. National Bankshares decreased their price objective on Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating for the company in a report on Tuesday, January 9th. Finally, BMO Capital Markets upgraded Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $7.50 in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.70.

View Our Latest Stock Analysis on Algonquin Power & Utilities

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of large investors have recently added to or reduced their stakes in the business. Power Corp of Canada acquired a new position in shares of Algonquin Power & Utilities in the first quarter valued at $31,000. Captrust Financial Advisors grew its stake in Algonquin Power & Utilities by 66.4% in the 2nd quarter. Captrust Financial Advisors now owns 3,526 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,407 shares during the last quarter. BNP Paribas Arbitrage SA bought a new position in Algonquin Power & Utilities in the 2nd quarter valued at about $88,000. Tower Research Capital LLC TRC lifted its position in Algonquin Power & Utilities by 970.3% during the third quarter. Tower Research Capital LLC TRC now owns 7,535 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 6,831 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of Algonquin Power & Utilities during the first quarter worth approximately $157,000. Institutional investors own 52.12% of the company’s stock.

Algonquin Power & Utilities Company Profile

(Get Free Report)

Algonquin Power & Utilities Corp., a renewable energy and utility company, that provides energy and water solutions and services in North America and internationally. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment provides a portfolio of rate-regulated water, electricity, and gas utility services.

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

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