Algonquin Power & Utilities (NYSE:AQN) Announces Earnings Results

Algonquin Power & Utilities (NYSE:AQN) issued its earnings results on Friday. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04), Zacks reports. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business had revenue of $584.80 million during the quarter, compared to the consensus estimate of $644.73 million.

Algonquin Power & Utilities Price Performance

NYSE AQN opened at $4.79 on Friday. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm has a market capitalization of $3.67 billion, a PE ratio of -3.71 and a beta of 0.71. The company’s 50 day simple moving average is $4.59 and its 200 day simple moving average is $4.86.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.43%. Algonquin Power & Utilities’s dividend payout ratio is presently -14.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. National Bankshares cut their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Scotiabank raised their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.00.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.