Algonquin Power & Utilities Corp. (TSE:AQN – Get Free Report)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as C$24.00 and last traded at C$7.16, with a volume of 1250498 shares changing hands. The stock had previously closed at C$7.24.
Analysts Set New Price Targets
AQN has been the topic of several recent research reports. Wells Fargo & Company lowered Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a 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. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$6.25.
View Our Latest Analysis on AQN
Algonquin Power & Utilities Stock Performance
Algonquin Power & Utilities (TSE:AQN – Get Free Report) last posted its earnings results on Friday, August 9th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.11 by C$0.01. The company had revenue of C$819.06 million during the quarter, compared to analysts’ expectations of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%. As a group, sell-side analysts predict that Algonquin Power & Utilities Corp. will post 0.4865591 EPS for the current fiscal year.
Algonquin Power & Utilities Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of ?. The ex-dividend date of this dividend is Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio is currently 163.64%.
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.
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