Algonquin Power & Utilities (TSE:AQN) Sets New 12-Month High – Here’s What Happened

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$24.50 and last traded at C$6.56, with a volume of 3099361 shares trading hands. The stock had previously closed at C$6.54.

Wall Street Analyst Weigh In

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

Algonquin Power & Utilities Stock Up 0.3 %

The firm’s 50-day moving average price is C$6.62 and its two-hundred day moving average price is C$7.37. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97. The firm has a market cap of C$5.03 billion, a PE ratio of 29.82, a P/E/G ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.088 dividend. This represents a $0.35 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Insider Transactions at Algonquin Power & Utilities

In other Algonquin Power & Utilities news, Director Christopher Huskilson bought 25,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was bought at an average price of C$6.65 per share, for a total transaction of C$166,252.50. Also, Director Dilek Samil sold 17,400 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of C$6.46, for a total value of C$112,421.40. Company insiders own 0.06% of the company’s stock.

Algonquin Power & Utilities Company Profile

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.