Algonquin Power & Utilities (NYSE:AQN) Announces Quarterly Earnings Results, Meets Expectations

Algonquin Power & Utilities (NYSE:AQN) announced its quarterly earnings results on Thursday. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08, Briefing.com reports. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The firm had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. During the same period last year, the firm posted $0.11 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock traded down $0.01 on Friday, hitting $4.80. The stock had a trading volume of 4,556,084 shares, compared to its average volume of 5,642,482. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 30.06 and a beta of 0.68. The business’s 50 day moving average is $5.20 and its two-hundred day moving average is $5.75. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. Algonquin Power & Utilities has a twelve month low of $4.67 and a twelve month high of $6.79.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.42%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 162.50%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AQN shares. Wells Fargo & Company dropped their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Desjardins reduced their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a report on Monday, August 12th. Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 target price on the stock. CIBC decreased their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.18.

About Algonquin Power & Utilities

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.