Algonquin Power & Utilities (TSE:AQN) Hits New 12-Month Low – Here’s Why

Algonquin Power & Utilities Corp. (TSE:AQN) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as C$6.67 and last traded at C$6.75, with a volume of 1036625 shares trading hands. The stock had previously closed at C$6.73.

Analyst Upgrades and Downgrades

AQN has been the subject of several research reports. Wells Fargo & Company downgraded shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Janney Montgomery Scott upgraded Algonquin Power & Utilities to a “hold” rating in a research note on Thursday, September 5th. Finally, Raymond James lowered Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$6.25.

Algonquin Power & Utilities Stock Performance

The stock has a market capitalization of C$5.17 billion, a P/E ratio of 30.59, a P/E/G ratio of 1.07 and a beta of 0.52. The company’s fifty day simple moving average is C$7.18 and its 200 day simple moving average is C$8.00. The company has a current ratio of 0.97, a quick ratio of 0.37 and a debt-to-equity ratio of 108.48.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings data on Friday, August 9th. The company reported C$0.12 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.11 by C$0.01. The firm had revenue of C$819.06 million during the quarter, compared to analyst estimates of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%. As a group, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

About Algonquin Power & Utilities

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.