Wall Street analysts forecast that Algonquin Power & Utilities Corp. (NYSE:AQN – Get Rating) will post $595.46 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Algonquin Power & Utilities’ earnings. The lowest sales estimate is $562.52 million and the highest is $624.00 million. Algonquin Power & Utilities reported sales of $527.52 million during the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Algonquin Power & Utilities will report full-year sales of $2.70 billion for the current fiscal year, with estimates ranging from $2.63 billion to $2.83 billion. For the next year, analysts forecast that the firm will post sales of $2.96 billion, with estimates ranging from $2.84 billion to $3.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Algonquin Power & Utilities.
Algonquin Power & Utilities (NYSE:AQN – Get Rating) last posted its earnings results on Thursday, May 12th. The utilities provider reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $735.70 million for the quarter, compared to analyst estimates of $709.61 million. Algonquin Power & Utilities had a net margin of 14.33% and a return on equity of 6.88%. Algonquin Power & Utilities’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS.
NYSE:AQN opened at $14.42 on Friday. 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 firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.41 and a beta of 0.43. The company’s 50-day moving average is $14.96 and its two-hundred day moving average is $14.42. Algonquin Power & Utilities has a 1-year low of $13.26 and a 1-year high of $16.25.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $0.363 per share. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.17. This represents a $1.45 annualized dividend and a yield of 10.07%. The ex-dividend date of this dividend is Wednesday, June 29th. Algonquin Power & Utilities’s dividend payout ratio is presently 133.34%.
Several large investors have recently made changes to their positions in AQN. Huntington National Bank purchased a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $29,000. Power Corp of Canada purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at $31,000. Stonehage Fleming Financial Services Holdings Ltd grew its position in shares of Algonquin Power & Utilities by 53.8% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 2,415 shares of the utilities provider’s stock valued at $34,000 after buying an additional 845 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $39,000. Finally, Van ECK Associates Corp grew its position in shares of Algonquin Power & Utilities by 24.2% in the 4th quarter. Van ECK Associates Corp now owns 4,171 shares of the utilities provider’s stock valued at $60,000 after buying an additional 813 shares during 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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