Algonquin Power & Utilities (NYSE:AQN) Issues Earnings Results, Hits Estimates

Algonquin Power & Utilities (NYSE:AQNGet Rating) posted its earnings results on Thursday. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21, MarketWatch Earnings reports. The company had revenue of $735.70 million during the quarter, compared to the consensus estimate of $709.61 million. Algonquin Power & Utilities had a net margin of 11.59% and a return on equity of 6.97%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share.

AQN stock opened at $14.10 on Friday. The stock has a market capitalization of $9.50 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.25 and a beta of 0.43. The firm has a 50-day simple moving average of $15.05 and a 200-day simple moving average of $14.43. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. Algonquin Power & Utilities has a 52 week low of $13.26 and a 52 week high of $16.25.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a dividend of $0.1706 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.84%. Algonquin Power & Utilities’s dividend payout ratio is currently 133.34%.

A number of research analysts recently issued reports on AQN shares. Zacks Investment Research downgraded shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. StockNews.com started coverage on shares of Algonquin Power & Utilities in a research report on Thursday, March 31st. They set a “sell” rating for the company. National Bankshares cut shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective for the company. in a report on Wednesday, May 4th. Raymond James cut their price objective 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. Finally, National Bank Financial cut shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective for the company. in a report on Wednesday, May 4th. One equities 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 company. Based on data from MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average target price of $16.56.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Algonquin Power & Utilities by 2.9% during the first quarter. Vanguard Group Inc. now owns 22,478,377 shares of the utilities provider’s stock worth $348,864,000 after purchasing an additional 629,817 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Algonquin Power & Utilities by 10.8% during the first quarter. Mackenzie Financial Corp now owns 6,331,247 shares of the utilities provider’s stock worth $98,352,000 after purchasing an additional 619,686 shares in the last quarter. Morgan Stanley increased its stake in shares of Algonquin Power & Utilities by 1.2% during the second quarter. Morgan Stanley now owns 3,524,370 shares of the utilities provider’s stock worth $52,442,000 after purchasing an additional 42,596 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Algonquin Power & Utilities by 1.2% during the first quarter. Allianz Asset Management GmbH now owns 2,647,605 shares of the utilities provider’s stock worth $41,101,000 after purchasing an additional 30,919 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Algonquin Power & Utilities by 14.0% during the fourth quarter. Geode Capital Management LLC now owns 1,964,222 shares of the utilities provider’s stock worth $28,977,000 after purchasing an additional 241,803 shares in the last quarter. 45.25% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company Profile (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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Earnings History for Algonquin Power & Utilities (NYSE:AQN)

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