Algonquin Power & Utilities (NYSE:AQN) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Algonquin Power & Utilities (NYSE:AQN) released its quarterly earnings data on Friday. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05, Zacks reports. The business had revenue of $692.40 million during the quarter, compared to analyst estimates of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same quarter in the previous year, the business earned $0.14 EPS.

Algonquin Power & Utilities Stock Up 9.7 %

Shares of AQN opened at $5.99 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The company has a 50-day simple moving average of $5.14 and a 200-day simple moving average of $4.82. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.75. The firm has a market capitalization of $4.60 billion, a P/E ratio of -4.64 and a beta of 0.67.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.34%. Algonquin Power & Utilities’s payout ratio is -14.44%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. National Bankshares reduced their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. CIBC decreased their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada dropped their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Finally, Scotiabank upped their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.92.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.