Research Analysts Set Expectations for Algonquin Power & Utilities Corp.’s FY2023 Earnings (NYSE:AQN)

Algonquin Power & Utilities Corp. (NYSE:AQNGet 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:AQNGet 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 has been the subject of a number of other reports. 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 research report on Wednesday, May 4th. Zacks Investment Research cut shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. TD Securities decreased their price target on shares of Algonquin Power & Utilities from $17.00 to $16.50 and set a “buy” rating for the company in a research report on Monday. Raymond James decreased their price target on shares of Algonquin Power & Utilities from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 13th. Finally, StockNews.com began coverage on shares of Algonquin Power & Utilities in a research report on Thursday, March 31st. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Hold” and an average price target of $16.50.

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.

Featured Stories

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.