Algonquin Power & Utilities Corp (NYSE:AQN) – Equities research analysts at National Bank Financial dropped their FY2018 EPS estimates for shares of Algonquin Power & Utilities in a report issued on Sunday, November 11th, according to Zacks Investment Research. National Bank Financial analyst R. Merer now forecasts that the utilities provider will post earnings of $0.67 per share for the year, down from their prior forecast of $0.70. National Bank Financial has a “Sector Perform” rating and a $11.00 price objective on the stock. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q4 2018 earnings at $0.15 EPS and FY2019 earnings at $0.63 EPS.
AQN has been the subject of several other research reports. Canaccord Genuity reiterated a “buy” rating and set a $11.00 target price on shares of Algonquin Power & Utilities in a research report on Wednesday. Wells Fargo & Co dropped their target price on shares of Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating for the company in a research report on Monday, August 20th. Zacks Investment Research cut shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Finally, TD Securities boosted their price target on shares of Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.40.
Shares of Algonquin Power & Utilities stock traded up $0.10 on Tuesday, hitting $10.69. 458,817 shares of the company’s stock traded hands, compared to its average volume of 190,179. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.61 and a beta of 0.77. Algonquin Power & Utilities has a one year low of $9.45 and a one year high of $11.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.17.
Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, November 8th. The utilities provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $366.50 million during the quarter, compared to analysts’ expectations of $480.48 million. Algonquin Power & Utilities had a net margin of 11.48% and a return on equity of 9.59%. The business’s revenue was up 3.6% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in AQN. Comerica Bank acquired a new position in Algonquin Power & Utilities in the 3rd quarter worth $101,000. Blair William & Co. IL acquired a new position in Algonquin Power & Utilities in the 3rd quarter worth $136,000. Citadel Advisors LLC acquired a new position in Algonquin Power & Utilities in the 3rd quarter worth $200,000. Chicago Capital LLC acquired a new position in Algonquin Power & Utilities in the 2nd quarter worth $226,000. Finally, Paloma Partners Management Co acquired a new position in Algonquin Power & Utilities in the 2nd quarter worth $226,000. 43.72% of the stock is owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued 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 9.58%. Algonquin Power & Utilities’s payout ratio is 87.93%.
About Algonquin Power & Utilities
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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