Algonquin Power & Utilities Corp. (TSE:AQN - Free Report) - Research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for Algonquin Power & Utilities in a research note issued to investors 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 currently has a "Strong-Buy" rating on the stock. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.47 per share.
A number of other equities research analysts also recently commented on the company. Raymond James downgraded Algonquin Power & Utilities from a "moderate buy" rating to a "hold" rating in a research report on Monday, August 12th. Wells Fargo & Company downgraded Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 12th. Finally, Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities currently has an average rating of "Hold" and a consensus price target of C$5.50.
Check Out Our Latest Analysis on Algonquin Power & Utilities
Algonquin Power & Utilities Price Performance
TSE AQN traded up C$0.03 during trading hours on Thursday, reaching C$6.88. The company's stock had a trading volume of 636,860 shares, compared to its average volume of 2,754,612. The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48. Algonquin Power & Utilities has a 1 year low of C$6.51 and a 1 year high of C$9.28. The firm's 50-day moving average price is C$6.99 and its 200-day moving average price is C$7.78. The company has a market capitalization of C$5.28 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.07 and a beta of 0.52.
Algonquin Power & Utilities Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.088 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a yield of 5.12%. Algonquin Power & Utilities's payout ratio is 163.64%.
Insider Transactions at Algonquin Power & Utilities
In other news, Director Christopher Huskilson purchased 25,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of C$6.65 per share, for a total transaction of C$166,252.50. Corporate insiders own 0.06% of the company's stock.
Algonquin Power & Utilities Company Profile
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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.
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