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

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

Algonquin Power & Utilities Stock Performance

Shares of AQN stock opened at $5.99 on Friday. The stock has a market cap of $4.60 billion, a PE ratio of -4.64 and a beta of 0.67. The stock has a 50-day moving average of $5.14 and a 200-day moving average of $4.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.75.

Algonquin Power & Utilities Dividend Announcement

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

Analyst Upgrades and Downgrades

AQN has been the topic of several analyst reports. CIBC dropped their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Scotiabank lifted their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. National Bankshares reduced their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada dropped their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.