Algonquin Power & Utilities Corp. (AQN) Expected to Post FY2017 Earnings of $0.54 Per Share

Algonquin Power & Utilities Corp. (NYSE:AQN) – Research analysts at National Bank Financial dropped their FY2017 earnings per share (EPS) estimates for Algonquin Power & Utilities in a research report issued on Wednesday, according to Zacks Investment Research. National Bank Financial analyst R. Merer now expects that the utilities provider will post earnings per share of $0.54 for the year, down from their prior forecast of $0.55. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q4 2017 earnings at $0.12 EPS and FY2018 earnings at $0.59 EPS.

Separately, Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th.

Algonquin Power & Utilities (NYSE AQN) traded up $0.06 during mid-day trading on Monday, hitting $11.07. 128,473 shares of the stock were exchanged, compared to its average volume of 110,088. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.94 and a quick ratio of 0.76. Algonquin Power & Utilities has a one year low of $8.30 and a one year high of $11.34. The company has a market capitalization of $4,260.00, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.34 and a beta of 0.81.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a $0.1165 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.21%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 117.50%.

Several hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc. boosted its position in shares of Algonquin Power & Utilities by 2.4% in the third quarter. TD Asset Management Inc. now owns 8,159,820 shares of the utilities provider’s stock valued at $86,058,000 after acquiring an additional 191,674 shares during the period. Vanguard Group Inc. lifted its position in Algonquin Power & Utilities by 5.6% during the second quarter. Vanguard Group Inc. now owns 7,738,993 shares of the utilities provider’s stock valued at $81,570,000 after purchasing an additional 410,997 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its position in Algonquin Power & Utilities by 18.6% during the third quarter. Montrusco Bolton Investments Inc. now owns 7,689,672 shares of the utilities provider’s stock valued at $81,099,000 after purchasing an additional 1,205,668 shares during the last quarter. Intact Investment Management Inc. lifted its position in Algonquin Power & Utilities by 12.1% during the third quarter. Intact Investment Management Inc. now owns 6,010,360 shares of the utilities provider’s stock valued at $79,217,000 after purchasing an additional 651,000 shares during the last quarter. Finally, Greystone Managed Investments Inc. lifted its position in Algonquin Power & Utilities by 16.3% during the third quarter. Greystone Managed Investments Inc. now owns 3,390,804 shares of the utilities provider’s stock valued at $35,761,000 after purchasing an additional 475,339 shares during the last quarter. Institutional investors own 36.83% of the company’s stock.

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Algonquin Power & Utilities 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 (NYSE:AQN)

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