Algonquin Power & Utilities Corp. (NYSE:AQN) – Stock analysts at National Bank Financial cut their FY2017 earnings per share (EPS) estimates for shares of Algonquin Power & Utilities in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. National Bank Financial analyst R. Merer now forecasts that the utilities provider will post earnings per share of $0.54 for the year, down from their prior estimate 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 Algonquin Power & Utilities from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, August 14th.
Shares of Algonquin Power & Utilities (NYSE AQN) traded up $0.08 during trading on Monday, hitting $11.01. The company’s stock had a trading volume of 88,903 shares, compared to its average volume of 110,010. Algonquin Power & Utilities has a 12 month low of $8.23 and a 12 month high of $11.34. The company has a market capitalization of $4,249.66, a P/E ratio of 19.61, a P/E/G ratio of 1.35 and a beta of 0.80. The company has a quick ratio of 0.76, a current ratio of 0.94 and a debt-to-equity ratio of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.1165 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.47 annualized dividend and a dividend yield of 4.23%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 123.68%.
Several institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC bought a new stake in shares of Algonquin Power & Utilities in the third quarter worth about $111,000. Wells Fargo & Company MN increased its holdings in shares of Algonquin Power & Utilities by 27.5% in the third quarter. Wells Fargo & Company MN now owns 386,129 shares of the utilities provider’s stock worth $4,081,000 after acquiring an additional 83,269 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth about $1,242,000. Legal & General Group Plc boosted its position in shares of Algonquin Power & Utilities by 40.8% during the third quarter. Legal & General Group Plc now owns 67,329 shares of the utilities provider’s stock worth $710,000 after buying an additional 19,500 shares during the period. Finally, AGF Investments Inc. acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth about $10,397,000. Institutional investors own 36.83% of the company’s stock.
About Algonquin Power & Utilities
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Algonquin Power & Utilities Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities Corp. and related companies with MarketBeat.com's FREE daily email newsletter.