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

Algonquin Power & Utilities Corp. (NYSE:AQN) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.065 per share by the utilities provider on Wednesday, January 15th. This represents a $0.26 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Tuesday, December 31st.

Algonquin Power & Utilities has decreased its dividend payment by an average of 10.7% per year over the last three years. Algonquin Power & Utilities has a dividend payout ratio of 86.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Algonquin Power & Utilities to earn $0.32 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 81.3%.

Algonquin Power & Utilities Stock Down 0.9 %

Shares of NYSE AQN opened at $4.48 on Friday. 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 $3.44 billion, a P/E ratio of -3.47 and a beta of 0.68. Algonquin Power & Utilities has a 52 week low of $4.25 and a 52 week high of $6.79. The business has a 50-day simple moving average of $4.74 and a two-hundred day simple moving average of $5.32.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. Algonquin Power & Utilities’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. Research analysts anticipate that Algonquin Power & Utilities will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AQN has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Scotiabank dropped their price target on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price objective on shares of Algonquin Power & Utilities in a report on Friday, October 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Finally, Janney Montgomery Scott assumed coverage on shares of Algonquin Power & Utilities in a research note on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.25.

About Algonquin Power & Utilities

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.