Algonquin Power & Utilities (TSE:AQN) Hits New 1-Year Low – Here’s What Happened

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$6.26 and last traded at C$6.30, with a volume of 1386500 shares traded. The stock had previously closed at C$6.40.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Algonquin Power & Utilities presently has an average rating of “Hold” and an average price target of C$5.50.

Algonquin Power & Utilities Stock Down 2.7 %

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 stock has a market capitalization of C$4.78 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The stock has a fifty day moving average price of C$6.78 and a 200 day moving average price of C$7.56.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.088 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.65%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Insiders Place Their Bets

In other Algonquin Power & Utilities news, Director Dilek Samil sold 17,400 shares of Algonquin Power & Utilities stock in a transaction dated Monday, December 16th. The stock was 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 business’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of C$6.45 per share, with a total value of C$399,900.00. Corporate insiders own 0.06% of the company’s stock.

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.