Raymond James Has Pessimistic View of TSE:AQN Q4 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Stock analysts at Raymond James dropped their Q4 2024 EPS estimates for Algonquin Power & Utilities in a note issued to investors on Sunday, November 10th. Raymond James analyst D. Quezada now forecasts that the company will earn $0.13 per share for the quarter, down from their prior estimate of $0.17. Raymond James has a “Hold” rating on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Raymond James also issued estimates for Algonquin Power & Utilities’ Q1 2025 earnings at $0.13 EPS.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Thursday, September 5th. Finally, National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Algonquin Power & Utilities currently has an average rating of “Hold” and a consensus price target of C$6.25.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at C$6.66 on Wednesday. The stock’s 50 day moving average is C$7.10 and its 200 day moving average is C$7.89. The company has a market capitalization of C$5.11 billion, a P/E ratio of 30.27, a PEG ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a twelve month low of C$6.51 and a twelve month high of C$9.28. The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.088 per share. This represents a $0.35 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is currently 163.64%.

Insider Activity

In related news, Director Christopher Huskilson acquired 25,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of C$6.65 per share, for a total transaction of C$166,252.50. Insiders own 0.06% of the company’s stock.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.