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

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) hit a new 52-week high during trading on Thursday . The stock traded as high as C$24.60 and last traded at C$6.31, with a volume of 396864 shares. The stock had previously closed at C$6.41.

Algonquin Power & Utilities Stock Performance

The firm has a market cap of C$4.74 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The company has a current ratio of 0.97, a quick ratio of 0.37 and a debt-to-equity ratio of 108.48. The stock’s 50 day moving average is C$6.57 and its 200 day moving average is C$7.30.

Algonquin Power & Utilities Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s payout ratio is 163.64%.

Insider Buying and Selling

In related news, Director Dilek Samil sold 17,400 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$6.46, for a total transaction of C$112,421.40. Also, Director David Levenson acquired 62,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of C$6.45 per share, with a total value of C$399,900.00. 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.