Algonquin Power & Utilities (TSE:AQN) Posts Earnings Results

Algonquin Power & Utilities (TSE:AQN) released its earnings results on Friday. The company reported C$0.18 earnings per share for the quarter, FiscalAI reports. Algonquin Power & Utilities had a net margin of 7.42% and a return on equity of 3.88%. The business had revenue of C$1.10 billion during the quarter.

Algonquin Power & Utilities Trading Down 2.8%

AQN stock traded down C$0.24 during trading on Friday, hitting C$8.32. The company had a trading volume of 2,345,705 shares, compared to its average volume of 2,216,730. The stock has a market cap of C$6.40 billion, a PE ratio of 37.82, a PEG ratio of 1.07 and a beta of 1.32. The business has a 50-day moving average of C$8.75 and a 200-day moving average of C$8.64. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 140.99. Algonquin Power & Utilities has a one year low of C$7.26 and a one year high of C$9.69.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Raymond James Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 9th. TD Securities reduced their target price on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating for the company in a report on Monday, March 9th. Finally, Barclays set a C$10.00 target price on Algonquin Power & Utilities and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$7.58.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada.