David Levenson Buys 62,000 Shares of Algonquin Power & Utilities Corp. (TSE:AQN) Stock

Algonquin Power & Utilities Corp. (TSE:AQN) Director David Levenson acquired 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of C$6.45 per share, with a total value of C$399,900.00.

Algonquin Power & Utilities Price Performance

TSE:AQN opened at C$6.23 on Thursday. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. Algonquin Power & Utilities Corp. has a one year low of C$6.23 and a one year high of C$9.28. The company has a fifty day moving average price of C$6.76 and a 200 day moving average price of C$7.55. The stock has a market cap of C$4.78 billion, a P/E ratio of 28.32, a PEG ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.088 dividend. This represents a $0.35 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s payout ratio is presently 163.64%.

Analyst Ratings Changes

Separately, Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Four 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$5.50.

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.