Raymond James Has Pessimistic View of TSE:AQN Q4 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Research analysts at Raymond James cut their Q4 2024 earnings estimates for shares of Algonquin Power & Utilities in a note issued to investors on Sunday, November 10th. Raymond James analyst D. Quezada now anticipates that the company will earn $0.13 per share for the quarter, down from their prior estimate of $0.17. Raymond James currently has a “Hold” rating on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Raymond James also issued estimates for Algonquin Power & Utilities’ Q1 2025 earnings at $0.13 EPS.

A number of other analysts also recently commented on the company. National Bank Financial raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company lowered shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$5.50.

Algonquin Power & Utilities Price Performance

Shares of TSE:AQN opened at C$6.75 on Wednesday. The stock’s 50 day moving average price is C$7.07 and its 200 day moving average price is C$7.87. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. The stock has a market cap of C$5.18 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a 12 month low of C$6.51 and a 12 month high of C$9.28.

Insider Buying and Selling

In other news, Director Christopher Huskilson bought 25,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was bought at an average cost of C$6.65 per share, for a total transaction of C$166,252.50. Insiders own 0.06% of the company’s stock.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.088 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s payout ratio is 163.64%.

Algonquin Power & Utilities Company Profile

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.