Algonquin Power & Utilities (NYSE:AQN) Announces Earnings Results

Algonquin Power & Utilities (NYSE:AQN) issued its quarterly earnings data on Friday. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04), Zacks reports. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%.

Algonquin Power & Utilities Trading Down 7.6 %

Algonquin Power & Utilities stock traded down $0.37 during midday trading on Friday, reaching $4.43. 8,063,251 shares of the stock traded hands, compared to its average volume of 9,509,232. The firm has a market cap of $3.40 billion, a PE ratio of -3.44 and a beta of 0.69. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The company has a 50-day simple moving average of $4.58 and a two-hundred day simple moving average of $4.87. Algonquin Power & Utilities has a 12-month low of $4.19 and a 12-month high of $6.79.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AQN. Scotiabank upped their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. National Bankshares dropped their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada cut their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

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.