Algonquin Power & Utilities Corp. (TSE:AQN) Increases Dividend to $0.30 Per Share

Algonquin Power & Utilities Corp. (TSE:AQNGet Rating) announced a quarterly dividend on Friday, March 17th, Zacks reports. Stockholders of record on Friday, March 31st will be paid a dividend of 0.298 per share on Friday, April 14th. This represents a $1.19 annualized dividend and a dividend yield of 11.20%. The ex-dividend date of this dividend is Thursday, March 30th. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.25.

Algonquin Power & Utilities Stock Performance

TSE:AQN traded down C$0.28 during trading hours on Monday, reaching C$10.64. The stock had a trading volume of 2,731,182 shares, compared to its average volume of 4,452,424. Algonquin Power & Utilities has a 12-month low of C$8.70 and a 12-month high of C$20.19. The stock has a 50 day simple moving average of C$10.07 and a 200 day simple moving average of C$12.05. The company has a debt-to-equity ratio of 110.25, a quick ratio of 0.37 and a current ratio of 0.72. The stock has a market cap of C$7.27 billion, a P/E ratio of 121.33, a price-to-earnings-growth ratio of 1.07 and a beta of 0.27.

Analyst Ratings Changes

A number of research firms have weighed in on AQN. Wells Fargo & Company upgraded Algonquin Power & Utilities to a “buy” rating and set a C$9.00 target price on the stock in a report on Thursday, January 5th. Desjardins downgraded shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating and set a C$7.00 price objective for the company. in a report on Friday, January 13th. Finally, National Bankshares decreased their price objective on shares of Algonquin Power & Utilities from C$11.00 to C$10.00 in a research note on Tuesday, March 7th.

Algonquin Power & Utilities Company Profile

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Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment operates a portfolio of rate-regulated utilities located in the United States, Canada, Chile, and Bermuda.

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Dividend History for Algonquin Power & Utilities (TSE:AQN)

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