Algonquin Power & Utilities Corp. Plans Quarterly Dividend of $0.07 (NYSE:AQN)

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, March 7th, NASDAQ Dividends reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.065 per share by the utilities provider on Tuesday, April 15th. This represents a $0.26 annualized dividend and a dividend yield of 5.43%. The ex-dividend date of this dividend is Monday, March 31st.

Algonquin Power & Utilities has decreased its dividend by an average of 19.6% per year over the last three years. Algonquin Power & Utilities has a dividend payout ratio of 72.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Algonquin Power & Utilities to earn $0.31 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 83.9%.

Algonquin Power & Utilities Stock Down 0.1 %

Shares of Algonquin Power & Utilities stock opened at $4.79 on Friday. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.79. The firm’s 50 day moving average price is $4.58 and its 200-day moving average price is $4.87. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.67 billion, a P/E ratio of -3.71 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The business had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. On average, sell-side analysts predict that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. National Bankshares dropped their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada dropped their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Scotiabank raised their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.00.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.