Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month High – What’s Next?

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$24.60 and last traded at C$6.31, with a volume of 396864 shares changing hands. The stock had previously closed at C$6.41.

Algonquin Power & Utilities Trading Down 2.4 %

The firm has a market cap of C$4.74 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. The business has a 50-day moving average of C$6.57 and a 200-day moving average of C$7.30.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.088 per share. This represents a $0.35 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 163.64%.

Insider Activity

In other news, Director David Levenson bought 62,000 shares of the business’s stock in a transaction that occurred on 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. Also, Director Christopher Huskilson purchased 25,000 shares of the stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of C$6.65 per share, for a total transaction of C$166,252.50. 0.06% of the stock is currently owned by insiders.

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.