Equities research analysts forecast that Algonquin Power & Utilities Corp. (NYSE:AQN) will report $389.86 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Algonquin Power & Utilities' earnings, with the highest sales estimate coming in at $397.72 million and the lowest estimate coming in at $382.00 million. Algonquin Power & Utilities reported sales of $365.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.6%. The firm is scheduled to announce its next earnings report on Thursday, November 5th.
According to Zacks, analysts expect that Algonquin Power & Utilities will report full year sales of $1.72 billion for the current fiscal year, with estimates ranging from $1.67 billion to $1.79 billion. For the next financial year, analysts expect that the business will post sales of $2.01 billion, with estimates ranging from $1.89 billion to $2.16 billion. Zacks Investment Research's sales calculations are an average based on a survey of analysts that follow Algonquin Power & Utilities.
Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, August 13th. The utilities provider reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). The firm had revenue of $343.64 million during the quarter, compared to analyst estimates of $357.37 million. Algonquin Power & Utilities had a net margin of 31.62% and a return on equity of 8.01%.
A number of research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Algonquin Power & Utilities from $15.50 to $16.00 and gave the company an "equal weight" rating in a report on Monday, October 5th. Zacks Investment Research raised Algonquin Power & Utilities from a "sell" rating to a "hold" rating in a report on Friday. TD Securities set a $17.00 price objective on Algonquin Power & Utilities and gave the company a "buy" rating in a report on Monday, July 20th. Wells Fargo & Company dropped their target price on Algonquin Power & Utilities from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, August 17th. Finally, National Bank Financial set a $15.75 target price on Algonquin Power & Utilities and gave the stock an "outperform" rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of "Hold" and a consensus target price of $15.83.
A number of institutional investors and hedge funds have recently modified their holdings of AQN. TD Asset Management Inc. grew its holdings in Algonquin Power & Utilities by 37.4% in the second quarter. TD Asset Management Inc. now owns 14,569,057 shares of the utilities provider's stock valued at $187,729,000 after purchasing an additional 3,968,106 shares during the period. GQG Partners LLC grew its holdings in Algonquin Power & Utilities by 45.3% in the second quarter. GQG Partners LLC now owns 11,520,569 shares of the utilities provider's stock valued at $148,448,000 after purchasing an additional 3,593,723 shares during the period. Toronto Dominion Bank grew its holdings in Algonquin Power & Utilities by 28.8% in the second quarter. Toronto Dominion Bank now owns 9,103,033 shares of the utilities provider's stock valued at $118,660,000 after purchasing an additional 2,034,471 shares during the period. Canada Pension Plan Investment Board grew its holdings in Algonquin Power & Utilities by 339.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,589,610 shares of the utilities provider's stock valued at $33,369,000 after purchasing an additional 2,000,000 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in Algonquin Power & Utilities by 37,233.6% in the first quarter. 1832 Asset Management L.P. now owns 1,984,655 shares of the utilities provider's stock valued at $25,212,000 after purchasing an additional 1,979,339 shares during the period. 36.93% of the stock is currently owned by institutional investors.
Shares of AQN stock opened at $15.73 on Monday. The stock's 50-day simple moving average is $14.39 and its 200-day simple moving average is $13.79. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.48 and a current ratio of 0.62. The firm has a market capitalization of $9.34 billion, a PE ratio of 16.22, a P/E/G ratio of 3.10 and a beta of 0.46. Algonquin Power & Utilities has a fifty-two week low of $9.53 and a fifty-two week high of $16.85.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.308 dividend. This is a positive change from Algonquin Power & Utilities's previous quarterly dividend of $0.16. This represents a $1.23 annualized dividend and a yield of 7.83%. The ex-dividend date was Tuesday, September 29th. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently 98.41%.
About Algonquin Power & Utilities
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 non-regulated renewable and clean energy power generation facilities.
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