Algonquin Power & Utilities (AQN) to Release Quarterly Earnings on Thursday

Algonquin Power & Utilities (NYSE:AQNGet Rating) will announce its earnings results after the market closes on Thursday, August 11th. Analysts expect the company to announce earnings of $0.15 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Algonquin Power & Utilities (NYSE:AQNGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Algonquin Power & Utilities had a return on equity of 6.88% and a net margin of 14.33%. The business had revenue of $735.70 million for the quarter, compared to analysts’ expectations of $709.61 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts expect Algonquin Power & Utilities to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Algonquin Power & Utilities Trading Up 0.4 %

Shares of AQN opened at $14.00 on Thursday. Algonquin Power & Utilities has a 12 month low of $12.88 and a 12 month high of $16.09. The stock’s 50-day moving average is $13.74 and its two-hundred day moving average is $14.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.79. The stock has a market cap of $9.43 billion, a PE ratio of 27.45, a P/E/G ratio of 2.51 and a beta of 0.45.

Algonquin Power & Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.363 per share. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.17. This represents a $1.45 annualized dividend and a dividend yield of 10.37%. The ex-dividend date was Wednesday, June 29th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 141.18%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Power Corp of Canada bought a new position in Algonquin Power & Utilities during the first quarter worth $31,000. Atria Wealth Solutions Inc. acquired a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at about $157,000. Raymond James Trust N.A. boosted its holdings in shares of Algonquin Power & Utilities by 12.9% in the 1st quarter. Raymond James Trust N.A. now owns 12,676 shares of the utilities provider’s stock valued at $197,000 after buying an additional 1,450 shares during the period. SVB Wealth LLC bought a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at about $232,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Algonquin Power & Utilities during the first quarter worth about $245,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AQN shares. TD Securities lowered their price objective on shares of Algonquin Power & Utilities from $17.00 to $16.50 and set a “buy” rating for the company in a research report on Monday, May 16th. Raymond James cut their price objective on shares of Algonquin Power & Utilities from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, May 13th. Credit Suisse Group lowered their target price on Algonquin Power & Utilities to $16.00 in a research note on Friday, May 27th. National Bankshares cut Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price target on the stock. in a research note on Wednesday, May 4th. Finally, National Bank Financial downgraded Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $16.00 price target for the company. in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.31.

Algonquin Power & Utilities Company Profile

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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, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.

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Earnings History for Algonquin Power & Utilities (NYSE:AQN)

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