David Levenson Purchases 62,000 Shares of Algonquin Power & Utilities Corp. (TSE:AQN) Stock

Algonquin Power & Utilities Corp. (TSE:AQN) Director David Levenson purchased 62,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of C$6.45 per share, with a total value of C$399,900.00.

Algonquin Power & Utilities Price Performance

TSE:AQN opened at C$6.40 on Wednesday. The stock has a market capitalization of C$4.91 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities Corp. has a 52 week low of C$6.27 and a 52 week high of C$9.28. The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48. The stock’s 50-day moving average price is C$6.78 and its 200-day moving average price is C$7.56.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.088 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Wall Street Analyst Weigh In

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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$5.50.

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.