Q2 2022 EPS Estimates for Algonquin Power & Utilities Corp. Lifted by Analyst (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQNGet Rating) – Analysts at National Bank Financial raised their Q2 2022 earnings per share estimates for Algonquin Power & Utilities in a research report issued on Monday, May 16th. National Bank Financial analyst R. Merer now expects that the company will earn $0.19 per share for the quarter, up from their prior forecast of $0.18. National Bank Financial has a “Sector Perform Under Weight” rating on the stock. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q3 2022 earnings at $0.25 EPS and Q4 2022 earnings at $0.25 EPS.

Algonquin Power & Utilities (TSE:AQNGet Rating) last released its quarterly earnings results on Thursday, March 3rd. The company reported C$0.27 earnings per share for the quarter, meeting the consensus estimate of C$0.27. The company had revenue of C$749.89 million during the quarter, compared to the consensus estimate of C$761.72 million.

Separately, National Bankshares cut shares of Algonquin Power & Utilities to a “hold” rating in a report on Wednesday, May 4th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Algonquin Power & Utilities presently has an average rating of “Buy” and an average target price of C$20.00.

Shares of AQN opened at C$18.43 on Wednesday. Algonquin Power & Utilities has a 12 month low of C$17.14 and a 12 month high of C$20.19. The firm’s 50 day moving average is C$19.04 and its 200-day moving average is C$18.29. The stock has a market capitalization of C$12.45 billion and a PE ratio of 34.49. The company has a current ratio of 0.69, a quick ratio of 0.39 and a debt-to-equity ratio of 82.26.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.467 per share. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, June 29th. This represents a $1.87 annualized dividend and a dividend yield of 10.14%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 127.79%.

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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