Algonquin Power & Utilities (NYSE:AQN) Posts Quarterly Earnings Results, Hits Expectations

Algonquin Power & Utilities (NYSE:AQN) issued its quarterly earnings data on Thursday. The utilities provider reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08, Briefing.com reports. The company had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. Algonquin Power & Utilities had a return on equity of 5.36% and a net margin of 4.70%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share.

Algonquin Power & Utilities Stock Performance

AQN stock traded down $0.01 during mid-day trading on Friday, reaching $4.80. 4,556,084 shares of the stock traded hands, compared to its average volume of 5,642,482. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. The business has a 50-day moving average of $5.20 and a two-hundred day moving average of $5.75. The firm has a market capitalization of $3.68 billion, a PE ratio of 30.06 and a beta of 0.68. Algonquin Power & Utilities has a 52 week low of $4.67 and a 52 week high of $6.79.

Algonquin Power & Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.42%. Algonquin Power & Utilities’s payout ratio is presently 162.50%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AQN shares. Scotiabank cut their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a report on Friday. Wells Fargo & Company cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research 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 research note on Monday, August 12th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Finally, Janney Montgomery Scott initiated coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.18.

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.