Raymond James Has Pessimistic View of TSE:AQN Q4 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Analysts at Raymond James dropped their Q4 2024 earnings per share (EPS) estimates for Algonquin Power & Utilities in a research note issued to investors on Sunday, November 10th. Raymond James analyst D. Quezada now expects that the company will earn $0.13 per share for the quarter, down from their prior forecast of $0.17. Raymond James has a “Hold” rating on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Raymond James also issued estimates for Algonquin Power & Utilities’ Q1 2025 earnings at $0.13 EPS.

Other research analysts also recently issued research reports about the stock. Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$6.25.

Algonquin Power & Utilities Stock Performance

AQN opened at C$6.66 on Wednesday. The company has a 50 day simple moving average of C$7.10 and a two-hundred day simple moving average of C$7.89. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. The firm has a market cap of C$5.11 billion, a P/E ratio of 30.27, a PEG ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a 1-year low of C$6.51 and a 1-year high of C$9.28.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.088 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.29%. 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 company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of C$6.65 per share, with a total value of C$166,252.50. Insiders own 0.06% of the company’s stock.

About Algonquin Power & Utilities

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.