Algonquin Power & Utilities (TSE:AQN) Hits New 12-Month Low – What’s Next?

Algonquin Power & Utilities Corp. (TSE:AQN) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$6.26 and last traded at C$6.30, with a volume of 1386500 shares traded. The stock had previously closed at C$6.40.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average target price of C$5.50.

Algonquin Power & Utilities Stock Up 2.3 %

The business’s 50-day moving average price is C$6.73 and its 200-day moving average price is C$7.54. The firm has a market capitalization of C$4.85 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.088 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.57%. Algonquin Power & Utilities’s dividend payout ratio is currently 163.64%.

Insider Activity

In other Algonquin Power & Utilities news, Director Dilek Samil sold 17,400 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$6.46, for a total value of C$112,421.40. Also, Director David Levenson purchased 62,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of C$6.45 per share, for a total transaction of C$399,900.00. 0.06% of the stock is currently owned by insiders.

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.