Algonquin Power & Utilities (TSE:AQN) Sets New 1-Year Low – What’s Next?

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$6.67 and last traded at C$6.75, with a volume of 1036625 shares trading hands. The stock had previously closed at C$6.73.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AQN shares. 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 Algonquin Power & Utilities to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company lowered Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Raymond James downgraded Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$6.25.

Algonquin Power & Utilities Price Performance

The business has a 50-day simple moving average of C$7.18 and a 200 day simple moving average of C$8.00. 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$5.17 billion, a P/E ratio of 30.59, a price-to-earnings-growth 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 firm 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 net margin of 4.70% and a return on equity of 0.24%. On average, analysts forecast that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio is 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.