Algonquin Power & Utilities Corp. Declares Quarterly Dividend of $0.09 (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.088 per share on Wednesday, January 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Tuesday, December 31st.

Algonquin Power & Utilities Stock Up 0.2 %

TSE:AQN opened at C$6.67 on Friday. 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$5.12 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.07 and a beta of 0.52. The stock has a 50-day moving average price of C$7.11 and a two-hundred day moving average price of C$7.91. Algonquin Power & Utilities has a 1 year low of C$6.51 and a 1 year high of C$9.28.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Algonquin Power & Utilities news, Director Christopher Huskilson purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of C$6.65 per share, with a total value of C$166,252.50. Company insiders own 0.06% of the company’s stock.

About Algonquin Power & Utilities

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.