National Bank Financial Predicts TSE:AQN FY2024 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Analysts at National Bank Financial reduced their FY2024 earnings estimates for shares of Algonquin Power & Utilities in a research note issued to investors on Tuesday, November 26th. National Bank Financial analyst R. Merer now forecasts that the company will earn $0.51 per share for the year, down from their prior estimate 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 equities research analysts have also recently issued reports about the stock. Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Raymond James cut shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company cut shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$5.50.

Algonquin Power & Utilities Trading Up 2.1 %

Algonquin Power & Utilities stock opened at C$6.85 on Thursday. The firm has a 50-day moving average of C$6.99 and a 200-day moving average of C$7.79. Algonquin Power & Utilities has a one year low of C$6.51 and a one year high of C$9.28. 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 company has a market cap of C$5.25 billion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities Cuts Dividend

The firm 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.14%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Insider Transactions at Algonquin Power & Utilities

In other Algonquin Power & Utilities news, Director Christopher Huskilson acquired 25,000 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased 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 owned by company insiders.

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.