National Bank Financial Weighs in on TSE:AQN FY2024 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Stock analysts at National Bank Financial dropped their FY2024 earnings estimates for shares of Algonquin Power & Utilities in a note issued to investors on Tuesday, November 26th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings of $0.51 per share for the year, down from their prior forecast of $0.53. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share.

A number of other equities research analysts have also issued reports on the company. Janney Montgomery Scott raised Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company downgraded shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Raymond James cut shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$5.50.

Algonquin Power & Utilities Trading Up 0.4 %

Shares of TSE:AQN opened at C$6.88 on Thursday. The stock has a market capitalization of C$5.28 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a 1-year low of C$6.51 and a 1-year high of C$9.28. The company has a 50 day moving average price of C$6.99 and a 200 day moving average price of C$7.78. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97.

Insider Activity

In other news, Director Christopher Huskilson acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of C$6.65 per share, for a total transaction of C$166,252.50. 0.06% of the stock is owned by corporate insiders.

Algonquin Power & Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.088 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 annualized dividend and a yield of 5.12%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.