Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month High at $23.64

Algonquin Power & Utilities Corp. (TSE:AQN) shares reached a new 52-week high during trading on Thursday . The stock traded as high as C$23.64 and last traded at C$7.02, with a volume of 1200182 shares traded. The stock had previously closed at C$7.02.

Analyst Ratings Changes

Several research analysts have recently commented on AQN shares. Wells Fargo & Company lowered Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday. National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday. Desjardins decreased their target price on Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating for the company in a report on Tuesday, April 30th. Finally, Raymond James lowered Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a report on Monday. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities has a consensus rating of “Hold” and an average target price of C$7.08.

Algonquin Power & Utilities Price Performance

The firm has a market cap of C$4.92 billion, a price-to-earnings ratio of -10.54, a PEG ratio of 1.07 and a beta of 0.47. The company has a debt-to-equity ratio of 141.91, a current ratio of 0.98 and a quick ratio of 0.37. The stock has a 50-day moving average price of C$8.18 and a 200 day moving average price of C$8.30.

Algonquin Power & Utilities Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.04%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -89.55%.

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.