What is Raymond James’ Estimate for TSE:AQN FY2024 Earnings?

Algonquin Power & Utilities Corp. (TSE:AQN) – Analysts at Raymond James reduced their FY2024 earnings estimates for shares of Algonquin Power & Utilities in a research report issued to clients and investors on Sunday, November 10th. Raymond James analyst D. Quezada now anticipates that the company will post earnings of $0.56 per share for the year, down from their previous estimate of $0.61. 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’ Q3 2025 earnings at $0.11 EPS.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company downgraded shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. National Bank Financial raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Janney Montgomery Scott raised Algonquin Power & Utilities to a “hold” rating in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$6.25.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at C$6.66 on Tuesday. The firm has a 50-day simple moving average of C$7.10 and a two-hundred day simple moving average of C$7.89. The stock has a market cap of C$5.11 billion, a PE ratio of 30.27, a P/E/G 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. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37.

Insider Transactions at Algonquin Power & Utilities

In related news, Director Christopher Huskilson bought 25,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of C$6.65 per share, with a total value of C$166,252.50. Corporate insiders own 0.06% of the company’s stock.

Algonquin Power & Utilities Cuts Dividend

The business 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. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is currently 163.64%.

Algonquin Power & Utilities Company Profile

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.