Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month Low – Time to Sell?

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) reached a new 52-week low on Thursday . The company traded as low as C$6.78 and last traded at C$6.82, with a volume of 1654704 shares trading hands. The stock had previously closed at C$6.96.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AQN. Wells Fargo & Company cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Janney Montgomery Scott raised Algonquin Power & Utilities to a “hold” rating in a research note on Thursday, September 5th. National Bank Financial raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Raymond James cut Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$6.25.

Algonquin Power & Utilities Stock Performance

The company has a fifty day simple moving average of C$7.20 and a two-hundred day simple moving average of C$8.02. 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 has a market capitalization of C$5.28 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities (TSE:AQN) last posted its earnings results on Friday, August 9th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.11 by C$0.01. The firm had revenue of C$819.06 million for the quarter, compared to analyst estimates of C$851.84 million. Algonquin Power & Utilities had a return on equity of 0.24% and a net margin of 4.70%. On average, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of ∞. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 163.64%.

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.