Algonquin Power & Utilities Corp (NYSE:AQN) – Equities research analysts at National Bank Financial cut their FY2019 EPS estimates for Algonquin Power & Utilities in a note issued to investors on Monday, May 13th. National Bank Financial analyst R. Merer now anticipates that the utilities provider will post earnings per share of $0.63 for the year, down from their previous estimate of $0.65. National Bank Financial currently has a “Sector Perform” rating and a $12.00 price target on the stock. National Bank Financial also issued estimates for Algonquin Power & Utilities’ FY2020 earnings at $0.64 EPS.
AQN has been the subject of several other reports. Zacks Investment Research raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. ValuEngine raised shares of Algonquin Power & Utilities from a “hold” rating to a “buy” rating in a research report on Monday. TD Securities boosted their price target on shares of Algonquin Power & Utilities from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Monday, March 4th. Raymond James reissued a “strong-buy” rating and issued a $13.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, March 1st. Finally, Bank of America began coverage on shares of Algonquin Power & Utilities in a research report on Wednesday, February 27th. They issued a “neutral” rating and a $11.00 price target for the company. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.13.
Algonquin Power & Utilities stock opened at $11.34 on Thursday. The firm has a market cap of $5.58 billion, a PE ratio of 17.18, a PEG ratio of 2.15 and a beta of 0.74. Algonquin Power & Utilities has a 12-month low of $9.45 and a 12-month high of $11.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.29 and a quick ratio of 0.79.
Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). The firm had revenue of $477.23 million for the quarter, compared to analysts’ expectations of $498.08 million. Algonquin Power & Utilities had a return on equity of 7.64% and a net margin of 15.57%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new stake in Algonquin Power & Utilities in the third quarter valued at $6,403,000. Copeland Capital Management LLC increased its stake in Algonquin Power & Utilities by 3.0% in the fourth quarter. Copeland Capital Management LLC now owns 2,454,874 shares of the utilities provider’s stock valued at $24,671,000 after purchasing an additional 70,562 shares during the period. JPMorgan Chase & Co. increased its stake in Algonquin Power & Utilities by 16.9% in the third quarter. JPMorgan Chase & Co. now owns 131,895 shares of the utilities provider’s stock valued at $1,366,000 after purchasing an additional 19,054 shares during the period. Jarislowsky Fraser Ltd increased its stake in Algonquin Power & Utilities by 88.4% in the fourth quarter. Jarislowsky Fraser Ltd now owns 27,945 shares of the utilities provider’s stock valued at $280,000 after purchasing an additional 13,112 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Algonquin Power & Utilities in the fourth quarter valued at $10,540,000. 46.99% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.142 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $0.57 dividend on an annualized basis and a yield of 5.01%. Algonquin Power & Utilities’s payout ratio is 77.27%.
About Algonquin Power & Utilities
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 and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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