Algonquin Power & Utilities Corp. (NYSE:AQN) Declares $0.07 Quarterly Dividend

Algonquin Power & Utilities Corp. (NYSE:AQN) declared a quarterly dividend on Friday, March 7th, NASDAQ Dividends reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.065 per share by the utilities provider on Tuesday, April 15th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Monday, March 31st.

Algonquin Power & Utilities has decreased its dividend payment by an average of 19.6% annually over the last three years. Algonquin Power & Utilities has a payout ratio of 72.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Algonquin Power & Utilities to earn $0.31 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 83.9%.

Algonquin Power & Utilities Price Performance

Shares of Algonquin Power & Utilities stock traded down $0.01 during trading on Friday, reaching $4.79. The company’s stock had a trading volume of 30,474,718 shares, compared to its average volume of 10,075,853. The business has a 50 day moving average price of $4.58 and a 200-day moving average price of $4.87. Algonquin Power & Utilities has a 12-month low of $4.19 and a 12-month high of $6.79. The company has a market capitalization of $3.67 billion, a P/E ratio of -3.71 and a beta of 0.69. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. As a group, sell-side analysts anticipate that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AQN. Scotiabank increased their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a report on Thursday, February 13th. National Bankshares lowered their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Finally, Royal Bank of Canada cut their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.00.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.