Algonquin Power & Utilities (TSE:AQN) Hits New 1-Year Low – Here’s What Happened

Algonquin Power & Utilities Corp. (TSE:AQN) hit a new 52-week low during 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. The stock had previously closed at C$6.40.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus target price of C$5.50.

Algonquin Power & Utilities Trading Down 2.7 %

The firm has a market cap of C$4.78 billion, a PE ratio of 28.32, a PEG ratio of 1.07 and a beta of 0.52. The firm has a fifty day simple moving average of C$6.78 and a two-hundred day simple moving average of C$7.56. The company has a current ratio of 0.97, a quick ratio of 0.37 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. Investors of record on Tuesday, December 31st will be issued a $0.088 dividend. This represents a $0.35 annualized dividend and a yield of 5.65%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 163.64%.

Insiders Place Their Bets

In other Algonquin Power & Utilities news, Director Dilek Samil sold 17,400 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of C$6.46, for a total transaction of C$112,421.40. Also, Director David Levenson bought 62,000 shares of Algonquin Power & Utilities stock in a transaction dated 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. 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.