Scotiabank Has Positive Outlook of AQN FY2025 Earnings

Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) - Research analysts at Scotiabank upped their FY2025 EPS estimates for shares of Algonquin Power & Utilities in a research report issued on Monday, June 9th. Scotiabank analyst R. Hope now expects that the utilities provider will post earnings per share of $0.31 for the year, up from their previous estimate of $0.29. Scotiabank has a "Sector Perform" rating and a $6.50 price target on the stock. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.38 per share. Scotiabank also issued estimates for Algonquin Power & Utilities' FY2026 earnings at $0.36 EPS.

A number of other research analysts have also weighed in on AQN. BMO Capital Markets reiterated a "market perform" rating and issued a $6.00 price objective (up from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Desjardins increased their target price on Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. National Bank Financial raised shares of Algonquin Power & Utilities to a "hold" rating in a research note on Sunday. Royal Bank of Canada upped their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen cut Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $6.31.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock traded up $0.03 on Wednesday, reaching $5.91. 2,651,889 shares of the company traded hands, compared to its average volume of 8,592,119. The company has a 50 day moving average of $5.42 and a 200 day moving average of $4.95. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.36. The firm has a market capitalization of $4.54 billion, a PE ratio of -4.58 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 (NYSE:AQN - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $692.40 million during 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 period last year, the business posted $0.14 earnings per share.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio is currently -16.77%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. lifted its holdings in shares of Algonquin Power & Utilities by 84.9% during the first quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider's stock worth $216,868,000 after purchasing an additional 19,392,805 shares during the period. FIL Ltd raised its holdings in Algonquin Power & Utilities by 85.6% in the 4th quarter. FIL Ltd now owns 40,886,793 shares of the utilities provider's stock worth $181,473,000 after purchasing an additional 18,857,515 shares during the period. Southpoint Capital Advisors LP purchased a new position in shares of Algonquin Power & Utilities during the 1st quarter valued at approximately $51,400,000. Norges Bank acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at about $31,508,000. Finally, Ariel Investments LLC purchased a new stake in Algonquin Power & Utilities during the 1st quarter worth approximately $35,735,000. 62.28% of the stock is owned by institutional investors and hedge funds.

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.