Algonquin Power & Utilities Corp. Declares Quarterly Dividend of $0.07 (NYSE:AQN)

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, March 7th, NASDAQ Dividends reports. Investors of record on Monday, March 31st will be paid a dividend of 0.065 per share by the utilities provider on Tuesday, April 15th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Monday, March 31st.

Algonquin Power & Utilities has decreased its dividend payment by an average of 19.6% annually over the last three years. Algonquin Power & Utilities has a payout ratio of 72.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Algonquin Power & Utilities to earn $0.31 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 83.9%.

Algonquin Power & Utilities Trading Down 0.1 %

Shares of NYSE AQN opened at $4.79 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The stock has a market capitalization of $3.67 billion, a P/E ratio of -3.71 and a beta of 0.71. Algonquin Power & Utilities has a 1-year low of $4.19 and a 1-year high of $6.79. The business has a fifty day moving average price of $4.59 and a 200 day moving average price of $4.86.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Equities research analysts expect that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AQN shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Royal Bank of Canada reduced their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Scotiabank upped their target price on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, National Bankshares cut their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.