National Bank Financial Comments on Algonquin Power & Utilities Corp’s FY2019 Earnings (AQN)

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Algonquin Power & Utilities Corp (NYSE:AQN) – Equities researchers at National Bank Financial raised their FY2019 earnings per share (EPS) estimates for Algonquin Power & Utilities in a report issued on Sunday, April 21st. National Bank Financial analyst R. Merer now forecasts that the utilities provider will post earnings of $0.65 per share for the year, up from their prior forecast of $0.63. National Bank Financial currently has a “Sector Perform” rating and a $12.00 target price on the stock.

Several other research firms have also recently issued reports on AQN. Zacks Investment Research cut Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Canaccord Genuity cut Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Desjardins reaffirmed a “buy” rating and set a $13.00 price objective on shares of Algonquin Power & Utilities in a research report on Tuesday. Bank of America initiated coverage on Algonquin Power & Utilities in a research report on Wednesday, February 27th. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $13.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Algonquin Power & Utilities presently has a consensus rating of “Buy” and an average price target of $12.13.

AQN opened at $11.40 on Wednesday. The firm has a market cap of $5.60 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.64 and a beta of 0.75. Algonquin Power & Utilities has a 12 month low of $9.45 and a 12 month high of $11.60. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 0.95.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Thursday, February 28th. The utilities provider reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Algonquin Power & Utilities had a return on equity of 9.35% and a net margin of 11.23%. The firm had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $414.08 million.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.128 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.51 annualized dividend and a dividend yield of 4.49%. Algonquin Power & Utilities’s dividend payout ratio is currently 77.27%.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its position in shares of Algonquin Power & Utilities by 16.4% during the 3rd quarter. Vanguard Group Inc now owns 11,589,361 shares of the utilities provider’s stock worth $120,066,000 after acquiring an additional 1,634,962 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $6,403,000. Copeland Capital Management LLC boosted its position in shares of Algonquin Power & Utilities by 3.0% in the 4th quarter. Copeland Capital Management LLC now owns 2,454,874 shares of the utilities provider’s stock valued at $24,671,000 after purchasing an additional 70,562 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Algonquin Power & Utilities by 16.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,895 shares of the utilities provider’s stock valued at $1,366,000 after purchasing an additional 19,054 shares during the period. Finally, Jarislowsky Fraser Ltd boosted its position in shares of Algonquin Power & Utilities by 88.4% in the 4th quarter. Jarislowsky Fraser Ltd now owns 27,945 shares of the utilities provider’s stock valued at $280,000 after purchasing an additional 13,112 shares during the period. 45.39% of the stock is owned by institutional investors and hedge funds.

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 a portfolio of non-regulated renewable and clean energy power generation facilities.

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