Raymond James Brokers Lower Earnings Estimates for TSE:AQN

Algonquin Power & Utilities Corp. (TSE:AQN) – Stock analysts at Raymond James reduced their Q4 2024 earnings per share (EPS) estimates for Algonquin Power & Utilities in a report issued on Sunday, November 10th. Raymond James analyst D. Quezada now expects that the company will earn $0.13 per share for the quarter, down from their previous forecast of $0.17. Raymond James currently has a “Hold” rating on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Raymond James also issued estimates for Algonquin Power & Utilities’ Q1 2025 earnings at $0.13 EPS.

A number of other research firms have also weighed in on AQN. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Wells Fargo & Company downgraded Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$5.50.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at C$6.75 on Wednesday. The firm has a market capitalization of C$5.18 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The stock’s 50 day moving average price is C$7.07 and its 200 day moving average price is C$7.87. Algonquin Power & Utilities has a one year low of C$6.51 and a one year high of C$9.28. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97.

Insiders Place Their Bets

In other news, Director Christopher Huskilson purchased 25,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were bought at an average price of C$6.65 per share, for a total transaction of C$166,252.50. 0.06% of the stock is owned by corporate insiders.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.088 dividend. This represents a $0.35 annualized dividend and a yield of 5.21%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is presently 163.64%.

About Algonquin Power & Utilities

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.