TSE:AQN FY2024 EPS Lowered by National Bank Financial

Algonquin Power & Utilities Corp. (TSE:AQN) – Equities researchers at National Bank Financial reduced their FY2024 earnings per share estimates for shares of Algonquin Power & Utilities in a research note issued on Tuesday, November 26th. National Bank Financial analyst R. Merer now expects that the company will earn $0.51 per share for the year, down from their prior forecast of $0.53. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share.

Other analysts also recently issued research reports about the stock. Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Raymond James lowered Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$5.50.

Algonquin Power & Utilities Trading Up 1.0 %

Shares of Algonquin Power & Utilities stock opened at C$6.95 on Thursday. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97. The firm has a 50-day moving average of C$6.98 and a 200-day moving average of C$7.77. Algonquin Power & Utilities has a 52-week low of C$6.51 and a 52-week high of C$9.28. The stock has a market cap of C$5.33 billion, a PE ratio of 31.27, a PEG ratio of 1.07 and a beta of 0.52.

Insider Buying and Selling

In other Algonquin Power & Utilities news, Director Christopher Huskilson acquired 25,000 shares of Algonquin Power & Utilities stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of C$6.65 per share, with a total value of C$166,252.50. 0.06% of the stock is currently owned by company insiders.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.088 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

About Algonquin Power & Utilities

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.