Algonquin Power & Utilities Corp. Announces Quarterly Dividend of $0.09 (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) declared a quarterly dividend on Friday, August 9th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.09 per share on Tuesday, October 15th. This represents a $0.36 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Friday, September 27th.

Algonquin Power & Utilities Trading Down 3.1 %

TSE AQN opened at C$7.31 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.37 and a debt-to-equity ratio of 108.48. The business has a fifty day simple moving average of C$7.74 and a 200 day simple moving average of C$8.18. Algonquin Power & Utilities has a 12 month low of C$6.75 and a 12 month high of C$9.30. The firm has a market capitalization of C$5.61 billion, a P/E ratio of 33.23, a PEG 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 earnings per share for the quarter, topping the consensus estimate of C$0.11 by C$0.01. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%. The business had revenue of C$819.06 million for the quarter, compared to analysts’ expectations of C$851.84 million. On average, analysts predict that Algonquin Power & Utilities will post 0.5019973 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AQN. Raymond James lowered Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 12th. National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company cut shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. 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.com, the stock currently has a consensus rating of “Hold” and an average price target of C$6.25.

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.