Analysts expect Algonquin Power & Utilities Corp (NYSE:AQN) to post $372.40 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Algonquin Power & Utilities’ earnings. The lowest sales estimate is $371.80 million and the highest is $373.00 million. Algonquin Power & Utilities posted sales of $366.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The business is expected to announce its next earnings results on Thursday, August 8th.

On average, analysts expect that Algonquin Power & Utilities will report full-year sales of $1.67 billion for the current fiscal year, with estimates ranging from $1.60 billion to $1.74 billion. For the next year, analysts expect that the firm will post sales of $1.75 billion, with estimates ranging from $1.68 billion to $1.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). The business had revenue of $477.23 million during the quarter, compared to the consensus estimate of $498.08 million. Algonquin Power & Utilities had a return on equity of 7.64% and a net margin of 15.57%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine raised shares of Algonquin Power & Utilities from a “hold” rating to a “buy” rating in a research note on Monday. TheStreet raised shares of Algonquin Power & Utilities from a “d” rating to a “b” rating in a research note on Wednesday, May 8th. Desjardins reissued a “buy” rating and set a $13.00 price target on shares of Algonquin Power & Utilities in a research note on Tuesday, April 23rd. Finally, National Bank Financial increased their price target on shares of Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “sector perform” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $12.13.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AQN. Comerica Bank increased its stake in Algonquin Power & Utilities by 9.6% in the 1st quarter. Comerica Bank now owns 10,978 shares of the utilities provider’s stock valued at $126,000 after buying an additional 963 shares during the last quarter. MML Investors Services LLC grew its holdings in Algonquin Power & Utilities by 7.6% during the 1st quarter. MML Investors Services LLC now owns 16,074 shares of the utilities provider’s stock worth $181,000 after acquiring an additional 1,136 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Algonquin Power & Utilities by 4.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,819 shares of the utilities provider’s stock worth $360,000 after acquiring an additional 1,497 shares during the last quarter. Stevens Capital Management LP grew its holdings in Algonquin Power & Utilities by 9.9% during the 1st quarter. Stevens Capital Management LP now owns 21,888 shares of the utilities provider’s stock worth $247,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Algonquin Power & Utilities by 2.5% during the 1st quarter. Raymond James & Associates now owns 84,612 shares of the utilities provider’s stock worth $953,000 after acquiring an additional 2,055 shares during the last quarter. 46.99% of the stock is currently owned by institutional investors and hedge funds.

NYSE:AQN traded up $0.25 during trading hours on Monday, reaching $11.59. The company’s stock had a trading volume of 379,691 shares, compared to its average volume of 308,007. The stock has a market capitalization of $5.68 billion, a PE ratio of 17.56, a P/E/G ratio of 2.15 and a beta of 0.74. Algonquin Power & Utilities has a one year low of $9.45 and a one year high of $11.71. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 1.03.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.142 per share. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $0.57 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, June 27th. Algonquin Power & Utilities’s dividend payout ratio is 77.27%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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