Algonquin Power & Utilities (TSE:AQN) Hits New 12-Month Low – What’s Next?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as C$6.53 and last traded at C$6.60, with a volume of 537334 shares trading hands. The stock had previously closed at C$6.57.

Analyst Ratings Changes

Several analysts recently weighed in on the company. National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Wells Fargo & Company cut shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Raymond James lowered shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Janney Montgomery Scott upgraded Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$6.25.

Algonquin Power & Utilities Stock Performance

The business’s 50-day moving average price is C$7.15 and its 200-day moving average price is C$7.95. 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 stock has a market cap of C$5.08 billion, a PE ratio of 29.86, a P/E/G ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings results on Friday, August 9th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.11 by C$0.01. The business had revenue of C$819.06 million for the quarter, compared to the consensus estimate of C$851.84 million. Algonquin Power & Utilities had a return on equity of 0.24% and a net margin of 4.70%. As a group, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend was Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio is presently 163.64%.

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.