Zacks: Brokerages Anticipate Algonquin Power & Utilities Corp. (NYSE:AQN) Will Announce Earnings of $0.15 Per Share

Wall Street brokerages forecast that Algonquin Power & Utilities Corp. (NYSE:AQNGet Rating) will report $0.15 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Algonquin Power & Utilities’ earnings. The lowest EPS estimate is $0.14 and the highest is $0.16. Algonquin Power & Utilities also reported earnings per share of $0.15 in the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Algonquin Power & Utilities will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.73 to $0.76. For the next financial year, analysts expect that the firm will report earnings of $0.80 per share, with EPS estimates ranging from $0.73 to $0.83. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQNGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The utilities provider reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Algonquin Power & Utilities had a net margin of 14.33% and a return on equity of 6.88%. The firm had revenue of $735.70 million during the quarter, compared to analyst estimates of $709.61 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue was up 15.9% on a year-over-year basis.

Several research firms recently commented on AQN. Raymond James decreased their price target on shares of Algonquin Power & Utilities from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, May 13th. Zacks Investment Research downgraded shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. National Bank Financial cut Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective for the company. in a research report on Wednesday, May 4th. National Bankshares lowered Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 target price on the stock. in a research report on Wednesday, May 4th. Finally, StockNews.com started coverage on Algonquin Power & Utilities in a research note on Thursday, March 31st. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average target price of $16.50.

A number of institutional investors have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ raised its position in shares of Algonquin Power & Utilities by 247.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 6,492 shares of the utilities provider’s stock valued at $94,000 after buying an additional 4,623 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Algonquin Power & Utilities by 34.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 20,991 shares of the utilities provider’s stock worth $304,000 after buying an additional 5,400 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Algonquin Power & Utilities by 2.8% during the third quarter. Bank of Nova Scotia now owns 8,735,745 shares of the utilities provider’s stock valued at $128,054,000 after purchasing an additional 235,792 shares during the period. Twin Tree Management LP bought a new position in Algonquin Power & Utilities in the fourth quarter worth $2,051,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Algonquin Power & Utilities by 16.0% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 99,330 shares of the utilities provider’s stock worth $1,457,000 after buying an additional 13,706 shares in the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

NYSE AQN traded up $0.01 during trading on Friday, reaching $14.51. 1,464,727 shares of the company’s stock were exchanged, compared to its average volume of 2,164,462. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 1.01. Algonquin Power & Utilities has a fifty-two week low of $13.26 and a fifty-two week high of $16.25. The company’s fifty day simple moving average is $14.93 and its 200-day simple moving average is $14.43. The firm has a market capitalization of $9.78 billion, a PE ratio of 28.55, a P/E/G ratio of 2.41 and a beta of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.363 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.45 dividend on an annualized basis and a yield of 10.01%. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.17. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 133.34%.

About Algonquin Power & Utilities (Get Rating)

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, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.

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