Zacks: Brokerages Anticipate Algonquin Power & Utilities Corp. (AQN) to Announce $0.10 Earnings Per Share

Wall Street analysts expect Algonquin Power & Utilities Corp. (NYSE:AQN) to announce earnings per share (EPS) of $0.10 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Algonquin Power & Utilities Corp.’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.11. Algonquin Power & Utilities Corp. reported earnings per share of $0.07 during the same quarter last year, which suggests a positive year-over-year growth rate of 42.9%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, November 14th.

According to Zacks, analysts expect that Algonquin Power & Utilities Corp. will report full-year earnings of $0.53 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.57. For the next fiscal year, analysts forecast that the firm will report earnings of $0.58 per share, with EPS estimates ranging from $0.51 to $0.63. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Algonquin Power & Utilities Corp..

Separately, Zacks Investment Research raised Algonquin Power & Utilities Corp. from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Monday, August 14th.

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Several institutional investors and hedge funds have recently made changes to their positions in AQN. Trexquant Investment LP acquired a new position in shares of Algonquin Power & Utilities Corp. in the 2nd quarter worth approximately $119,000. KCG Holdings Inc. boosted its holdings in shares of Algonquin Power & Utilities Corp. by 21.3% in the 1st quarter. KCG Holdings Inc. now owns 13,032 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 2,288 shares in the last quarter. Virtu KCG Holdings LLC boosted its holdings in shares of Algonquin Power & Utilities Corp. by 7.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 13,997 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 965 shares in the last quarter. Alliancebernstein L.P. acquired a new position in shares of Algonquin Power & Utilities Corp. in the 2nd quarter worth approximately $161,000. Finally, Jane Street Group LLC acquired a new position in shares of Algonquin Power & Utilities Corp. in the 1st quarter worth approximately $214,000. 38.23% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.1165 dividend. This represents a $0.47 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, September 28th. Algonquin Power & Utilities Corp.’s payout ratio is currently 156.67%.

Algonquin Power & Utilities Corp. Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, engages in the generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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Earnings History and Estimates for Algonquin Power & Utilities Corp. (NYSE:AQN)

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