Algonquin Power & Utilities (NYSE:AQN) Issues Quarterly Earnings Results

by · The Markets Daily

Algonquin Power & Utilities (NYSE:AQN – Get Free Report) posted its quarterly earnings data on Thursday. The utilities provider reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08, Briefing.com reports. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The company had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. During the same period in the prior year, the business posted $0.11 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis.

Algonquin Power & Utilities Stock Performance

Shares of NYSE:AQN traded down $0.01 during trading on Friday, reaching $4.80. 4,556,084 shares of the stock were exchanged, compared to its average volume of 5,642,482. Algonquin Power & Utilities has a 12 month low of $4.67 and a 12 month high of $6.79. The stock has a 50-day moving average price of $5.20 and a 200-day moving average price of $5.75. The company has a current ratio of 0.97, a quick ratio of 0.78 and a debt-to-equity ratio of 1.08. The firm has a market cap of $3.68 billion, a PE ratio of 30.06 and a beta of 0.68.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.42%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 162.50%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a report on Thursday, September 5th. They set a “neutral” rating and a $6.00 target price on the stock. CIBC dropped their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, Desjardins dropped their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and an average price target of $6.18.

Read Our Latest Research Report on AQN

About Algonquin Power & Utilities

(Get Free Report)

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.

Featured Articles