Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month High at $24.00

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price reached a new 52-week high on Thursday . The stock traded as high as C$24.00 and last traded at C$7.34, with a volume of 998982 shares trading hands. The stock had previously closed at C$7.27.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Raymond James cut shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 12th. Wells Fargo & Company downgraded Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Janney Montgomery Scott upgraded Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities presently has an average rating of “Hold” and an average price target of C$6.25.

Algonquin Power & Utilities Price Performance

The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97. The business’s fifty day simple moving average is C$7.86 and its 200 day simple moving average is C$8.20. The stock has a market cap of C$5.61 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, August 9th. The company reported C$0.12 EPS for the quarter, topping the consensus estimate of C$0.11 by C$0.01. Algonquin Power & Utilities had a return on equity of 0.24% and a net margin of 4.70%. The business had revenue of C$819.06 million for the quarter, compared to analysts’ expectations of C$851.84 million. Research analysts predict that Algonquin Power & Utilities Corp. will post 0.5010395 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 4.92%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 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.