Q3 2019 EPS Estimates for Algonquin Power & Utilities Corp Decreased by Analyst (NYSE:AQN)

Algonquin Power & Utilities Corp (NYSE:AQN) – Investment analysts at National Bank Financial decreased their Q3 2019 earnings per share estimates for shares of Algonquin Power & Utilities in a report released on Sunday, August 11th. National Bank Financial analyst R. Merer now forecasts that the utilities provider will post earnings of $0.13 per share for the quarter, down from their previous estimate of $0.15. National Bank Financial currently has a “Sector Perform” rating and a $12.50 price target on the stock. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.58 EPS and FY2020 earnings at $0.59 EPS.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Algonquin Power & Utilities had a net margin of 21.46% and a return on equity of 7.71%. The company had revenue of $343.58 million during the quarter, compared to the consensus estimate of $372.40 million.



Several other equities research analysts have also weighed in on the company. CIBC reiterated an “average” rating and issued a $13.50 price objective on shares of Algonquin Power & Utilities in a research note on Monday. TD Securities increased their price target on Algonquin Power & Utilities from $14.00 to $14.50 and gave the stock a “buy” rating in a research report on Monday. TheStreet upgraded Algonquin Power & Utilities from a “d” rating to a “b” rating in a research report on Wednesday, May 8th. Raymond James restated a “strong-buy” rating and set a $15.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, August 9th. Finally, Royal Bank of Canada increased their price target on Algonquin Power & Utilities from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.00.

AQN stock opened at $12.90 on Wednesday. Algonquin Power & Utilities has a 1-year low of $9.63 and a 1-year high of $13.07. The firm has a market cap of $6.40 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.62 and a beta of 0.66. The business’s 50 day moving average is $12.52 and its 200-day moving average is $11.72. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 1.03.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its position in Algonquin Power & Utilities by 15.1% during the 1st quarter. Bank of Montreal Can now owns 40,148,416 shares of the utilities provider’s stock worth $452,472,000 after acquiring an additional 5,271,752 shares during the last quarter. Vanguard Group Inc. boosted its position in Algonquin Power & Utilities by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,524,622 shares of the utilities provider’s stock valued at $163,783,000 after buying an additional 618,463 shares during the last quarter. TD Asset Management Inc. boosted its position in Algonquin Power & Utilities by 2.7% in the 2nd quarter. TD Asset Management Inc. now owns 11,263,390 shares of the utilities provider’s stock valued at $136,790,000 after buying an additional 295,846 shares during the last quarter. Toronto Dominion Bank boosted its position in Algonquin Power & Utilities by 8.8% in the 2nd quarter. Toronto Dominion Bank now owns 9,624,166 shares of the utilities provider’s stock valued at $116,878,000 after buying an additional 777,721 shares during the last quarter. Finally, GQG Partners LLC boosted its position in Algonquin Power & Utilities by 10.7% in the 1st quarter. GQG Partners LLC now owns 8,334,820 shares of the utilities provider’s stock valued at $93,770,000 after buying an additional 805,896 shares during the last quarter. Institutional investors and hedge funds own 46.86% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.142 per share. The ex-dividend date is Friday, September 27th. This represents a $0.57 dividend on an annualized basis and a yield of 4.40%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 84.85%.

Algonquin Power & Utilities Company Profile

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. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

See Also: Float

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

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