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

Algonquin Power & Utilities (NYSE:AQN) announced its quarterly earnings results on Friday. The utilities provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05, Zacks reports. The company had revenue of $692.40 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $0.14 EPS.

Algonquin Power & Utilities Stock Up 9.7 %

Shares of NYSE:AQN opened at $5.99 on Friday. The business’s 50-day moving average is $5.14 and its 200-day moving average is $4.82. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.75. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of -4.64 and a beta of 0.67. 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 Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on AQN. National Bankshares cut their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. CIBC reduced 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 report on Thursday, April 24th. Scotiabank raised their price target 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. Finally, Royal Bank of Canada reduced their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.92.

About Algonquin Power & Utilities

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.