Algonquin Power & Utilities Corp. (NYSE:AQN) to Issue $0.07 Quarterly Dividend

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, November 7th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.065 per share by the utilities provider on Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, December 31st.

Algonquin Power & Utilities has decreased its dividend payment by an average of 0.1%annually over the last three years. Algonquin Power & Utilities has a payout ratio of 72.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 8.1%

NYSE AQN opened at $6.19 on Friday. The business’s fifty day simple moving average is $5.68 and its 200-day simple moving average is $5.71. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.75 billion, a PE ratio of -3.44 and a beta of 0.75. Algonquin Power & Utilities has a 52 week low of $4.19 and a 52 week high of $6.48.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The firm had revenue of $600.80 million during the quarter, compared to analysts’ expectations of $596.67 million. During the same period last year, the business earned $0.08 earnings per share. As a group, equities analysts anticipate that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AQN has been the topic of several research analyst reports. TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Monday, August 11th. Desjardins upped their price objective on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the stock a “buy” rating in a report on Thursday, October 9th. Raymond James Financial boosted their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings restated a “sell (d)” rating on shares of Algonquin Power & Utilities in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus target price of $6.55.

About Algonquin Power & Utilities

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.