Scotiabank Has Positive Estimate for AQN FY2025 Earnings

Algonquin Power & Utilities Corp. (NYSE:AQN) – Analysts at Scotiabank upped their FY2025 earnings per share (EPS) estimates for shares of Algonquin Power & Utilities in a research report issued to clients and investors on Monday, June 9th. Scotiabank analyst R. Hope now expects that the utilities provider will post earnings per share of $0.31 for the year, up from their previous forecast of $0.29. Scotiabank currently has a “Sector Perform” rating and a $6.50 price target on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.38 per share. Scotiabank also issued estimates for Algonquin Power & Utilities’ FY2026 earnings at $0.36 EPS.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm had revenue of $692.40 million for the quarter, compared to analyst estimates of $699.08 million. During the same period last year, the firm posted $0.14 earnings per share.

Several other equities analysts also recently issued reports on AQN. TD Securities raised their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “hold” rating in a research note on Wednesday, June 4th. CIBC raised their target price on Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Royal Bank of Canada lifted their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. Raymond James increased their price target on Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, June 4th. Finally, National Bankshares downgraded Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $6.75 price objective for the company. in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities has an average rating of “Hold” and a consensus target price of $6.31.

Algonquin Power & Utilities Stock Up 0.8%

NYSE:AQN opened at $5.84 on Wednesday. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The company has a market cap of $4.48 billion, a PE ratio of -4.52 and a beta of 0.67. The firm’s 50 day simple moving average is $5.40 and its 200 day simple moving average is $4.94.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.065 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.46%. Algonquin Power & Utilities’s payout ratio is currently -16.77%.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Algonquin Power & Utilities by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider’s stock worth $139,845,000 after acquiring an additional 544,198 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Algonquin Power & Utilities by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,303,614 shares of the utilities provider’s stock worth $10,219,000 after purchasing an additional 92,373 shares in the last quarter. Alberta Investment Management Corp boosted its position in shares of Algonquin Power & Utilities by 8.7% during the 4th quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider’s stock worth $22,458,000 after purchasing an additional 402,500 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at about $990,000. Finally, Swiss National Bank increased its position in Algonquin Power & Utilities by 0.6% in the 4th quarter. Swiss National Bank now owns 1,441,700 shares of the utilities provider’s stock valued at $6,396,000 after buying an additional 8,700 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.