Analysts expect Algonquin Power & Utilities Corp (NYSE:AQN) to post sales of $414.08 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Algonquin Power & Utilities’ earnings. The lowest sales estimate is $399.36 million and the highest is $428.80 million. Algonquin Power & Utilities posted sales of $412.14 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.5%. The firm is expected to issue its next quarterly earnings results on Thursday, March 7th.
According to Zacks, analysts expect that Algonquin Power & Utilities will report full year sales of $1.60 billion for the current year, with estimates ranging from $1.53 billion to $1.66 billion. For the next financial year, analysts expect that the company will post sales of $1.63 billion, with estimates ranging from $1.56 billion to $1.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Algonquin Power & Utilities.
Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. Algonquin Power & Utilities had a net margin of 11.48% and a return on equity of 9.59%. The business had revenue of $366.50 million during the quarter, compared to analyst estimates of $480.48 million. The company’s revenue was up 3.6% on a year-over-year basis.
AQN has been the subject of several recent research reports. National Bank Financial reissued an “outperform overweight” rating on shares of Algonquin Power & Utilities in a research note on Monday, August 13th. Wells Fargo & Co lowered their price objective on shares of Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating for the company in a research note on Monday, August 20th. Finally, Zacks Investment Research lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Monday, October 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.33.
NYSE AQN opened at $10.59 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 1.04. Algonquin Power & Utilities has a one year low of $9.45 and a one year high of $11.23. The company has a market capitalization of $5.00 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.61 and a beta of 0.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.256 dividend. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 28th. This represents a $1.02 annualized dividend and a dividend yield of 9.67%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 87.93%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Algonquin Power & Utilities by 5.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,746,863 shares of the utilities provider’s stock valued at $84,447,000 after acquiring an additional 444,054 shares in the last quarter. Fiera Capital Corp raised its holdings in Algonquin Power & Utilities by 7.4% in the second quarter. Fiera Capital Corp now owns 2,376,480 shares of the utilities provider’s stock valued at $22,960,000 after acquiring an additional 163,177 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Algonquin Power & Utilities by 18.5% in the second quarter. D.A. Davidson & CO. now owns 45,687 shares of the utilities provider’s stock valued at $442,000 after acquiring an additional 7,148 shares in the last quarter. Dean Capital Investments Management LLC acquired a new stake in Algonquin Power & Utilities in the second quarter valued at approximately $354,000. Finally, Bank of New York Mellon Corp raised its holdings in Algonquin Power & Utilities by 437.0% in the second quarter. Bank of New York Mellon Corp now owns 99,535 shares of the utilities provider’s stock valued at $962,000 after acquiring an additional 81,001 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.
Algonquin Power & Utilities Company Profile
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 and the United States. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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