Algonquin Power & Utilities (NYSE:AQN) Issues Earnings Results

Algonquin Power & Utilities (NYSE:AQN) issued its quarterly earnings results on Thursday. The utilities provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01), Briefing.com reports. The business had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.11% and a negative net margin of 39.12%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share.

Algonquin Power & Utilities Trading Up 2.3 %

NYSE:AQN traded up $0.11 on Monday, hitting $4.91. 5,250,448 shares of the stock were exchanged, compared to its average volume of 5,382,739. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -3.81 and a beta of 0.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.78 and a current ratio of 0.97. Algonquin Power & Utilities has a 52 week low of $4.67 and a 52 week high of $6.79. The company’s 50-day moving average price is $5.18 and its 200 day moving average price is $5.73.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -20.15%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Janney Montgomery Scott assumed coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. CIBC lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Scotiabank dropped their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.