Algonquin Power & Utilities Corp (NYSE:AQN) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.142 per share by the utilities provider on Tuesday, October 15th. This represents a $0.57 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, September 27th.
Algonquin Power & Utilities has a dividend payout ratio of 82.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Algonquin Power & Utilities to earn $0.66 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 84.8%.
Shares of NYSE AQN traded down $0.05 during trading on Wednesday, hitting $13.76. The stock had a trading volume of 440,942 shares, compared to its average volume of 310,893. Algonquin Power & Utilities has a 12 month low of $9.63 and a 12 month high of $13.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.03 and a quick ratio of 0.83. The company has a market capitalization of $6.84 billion, a PE ratio of 20.85, a PEG ratio of 2.64 and a beta of 0.60. The firm has a fifty day moving average of $13.14 and a two-hundred day moving average of $12.14.
Several research firms have recently issued reports on AQN. ValuEngine upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Raymond James reiterated a “strong-buy” rating and issued a $15.00 target price on shares of Algonquin Power & Utilities in a research note on Friday, August 9th. Royal Bank of Canada upped their target price on shares of Algonquin Power & Utilities from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Industrial Alliance Securities reiterated a “buy” rating on shares of Algonquin Power & Utilities in a research note on Monday, August 12th. Finally, TD Securities boosted their price target on shares of Algonquin Power & Utilities from $14.00 to $14.50 and gave the stock a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.11.
Algonquin Power & Utilities Company Profile
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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