Algonquin Power & Utilities Corp. (NYSE:AQN – Get Rating) – National Bank Financial dropped their FY2023 earnings estimates for Algonquin Power & Utilities in a report released on Monday, May 16th. National Bank Financial analyst R. Merer now expects that the utilities provider will earn $0.73 per share for the year, down from their previous estimate of $0.74. National Bank Financial currently has a “Sector Perform” rating and a $16.00 target price on the stock.
Algonquin Power & Utilities (NYSE:AQN – Get Rating) last issued its earnings results on Thursday, May 12th. The utilities provider reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $735.70 million during the quarter, compared to analysts’ expectations of $709.61 million. Algonquin Power & Utilities had a net margin of 14.33% and a return on equity of 6.88%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS.
AQN stock opened at $14.25 on Thursday. The company has a 50 day simple moving average of $14.98 and a 200 day simple moving average of $14.42. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 2.36 and a beta of 0.43. Algonquin Power & Utilities has a 1 year low of $13.26 and a 1 year high of $16.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.56.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $0.363 dividend. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.17. This represents a $1.45 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date of this dividend is Wednesday, June 29th. Algonquin Power & Utilities’s dividend payout ratio is currently 133.34%.
Several large investors have recently bought and sold shares of AQN. Morgan Stanley boosted its stake in shares of Algonquin Power & Utilities by 1.2% in the 2nd quarter. Morgan Stanley now owns 3,524,370 shares of the utilities provider’s stock valued at $52,442,000 after purchasing an additional 42,596 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Algonquin Power & Utilities by 5.9% in the 3rd quarter. Advisor Group Holdings Inc. now owns 55,350 shares of the utilities provider’s stock valued at $809,000 after purchasing an additional 3,108 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at $27,000. Alliancebernstein L.P. boosted its stake in Algonquin Power & Utilities by 1.9% during the third quarter. Alliancebernstein L.P. now owns 215,005 shares of the utilities provider’s stock worth $3,152,000 after acquiring an additional 4,091 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Algonquin Power & Utilities by 2.0% during the third quarter. Allianz Asset Management GmbH now owns 2,810,195 shares of the utilities provider’s stock worth $41,192,000 after acquiring an additional 54,795 shares in the last quarter. 45.25% of the stock is currently owned by institutional investors.
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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