Insider Selling: Algonquin Power & Utilities Corp. (TSE:AQN) Director Sells 17,400 Shares of Stock

Algonquin Power & Utilities Corp. (TSE:AQN) Director Dilek Samil sold 17,400 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$6.46, for a total value of C$112,421.40.

Algonquin Power & Utilities Trading Up 1.1 %

Algonquin Power & Utilities stock opened at C$6.42 on Tuesday. The business’s 50-day simple moving average is C$6.80 and its 200-day simple moving average is C$7.57. Algonquin Power & Utilities Corp. has a 52 week low of C$6.27 and a 52 week high of C$9.28. The firm has a market capitalization of C$4.92 billion, a PE ratio of 29.18, a PEG ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.088 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.48%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$5.50.

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.