Algonquin Power & Utilities Corp. (TSE:AQN – Get Free Report) shares were down 11.9% during trading on Friday . The stock traded as low as C$7.43 and last traded at C$7.48. Approximately 1,886,468 shares changed hands during trading, a decline of 26% from the average daily volume of 2,550,310 shares. The stock had previously closed at C$8.49.
Analyst Ratings Changes
Separately, Desjardins cut their price target on Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating on the stock in a research report on Tuesday, April 30th.
Get Our Latest Stock Report on Algonquin Power & Utilities
Algonquin Power & Utilities Stock Performance
The company has a market cap of C$5.12 billion, a price-to-earnings ratio of -11.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.47. The firm has a 50-day simple moving average of C$8.27 and a 200 day simple moving average of C$8.32. The company has a quick ratio of 0.37, a current ratio of 0.98 and a debt-to-equity ratio of 141.91.
Algonquin Power & Utilities (TSE:AQN – Get Free Report) last released its quarterly earnings results on Friday, May 10th. The company reported C$0.19 EPS for the quarter, missing the consensus estimate of C$0.20 by C($0.01). The firm had revenue of C$993.71 million for the quarter, compared to analyst estimates of C$1.11 billion. Algonquin Power & Utilities had a negative return on equity of 5.84% and a negative net margin of 12.44%. On average, sell-side analysts predict that Algonquin Power & Utilities Corp. will post 0.6494624 earnings per share for the current fiscal year.
Algonquin Power & Utilities Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, September 27th. Algonquin Power & Utilities’s payout ratio is currently -89.55%.
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.
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