Algonquin Power & Utilities (TSE:AQN) Stock Price Down 6.4% Following Weak Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) shares traded down 6.4% during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as C$6.17 and last traded at C$6.39. 4,622,364 shares traded hands during mid-day trading, an increase of 104% from the average session volume of 2,269,075 shares. The stock had previously closed at C$6.83.

The company reported C$0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. During the same quarter in the prior year, the business earned $0.16 EPS.

Insider Transactions at Algonquin Power & Utilities

In other news, Director David Levenson acquired 62,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of C$6.45 per share, with a total value of C$399,900.00. Also, Director Dilek Samil sold 17,400 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$6.46, for a total transaction of C$112,421.40. Company insiders own 0.06% of the company’s stock.

Algonquin Power & Utilities Stock Down 1.5 %

The firm has a market capitalization of C$3.65 billion, a price-to-earnings ratio of -3.38, a P/E/G ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 154.35, a current ratio of 0.92 and a quick ratio of 0.37. The stock has a fifty day moving average of C$6.56 and a two-hundred day moving average of C$6.85.

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.