Algonquin Power & Utilities Corp. (NYSE:AQN – Get Free Report) announced a quarterly dividend on Friday, May 8th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.065 per share by the utilities provider on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 30th.
Algonquin Power & Utilities has decreased its dividend payment by an average of 0.3%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. Equities research analysts expect Algonquin Power & Utilities to earn $0.41 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 63.4%.
Algonquin Power & Utilities Stock Performance
Shares of NYSE AQN opened at $6.02 on Friday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 27.37 and a beta of 0.71. Algonquin Power & Utilities has a one year low of $5.32 and a one year high of $7.11. The business has a fifty day simple moving average of $6.03 and a 200 day simple moving average of $6.26. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 1.26.
Analyst Ratings Changes
Several brokerages have recently weighed in on AQN. TD Cowen decreased their target price on shares of Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Canadian Imperial Bank of Commerce increased their price target on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Zacks Research cut shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Wall Street Zen downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Wells Fargo & Company assumed coverage on Algonquin Power & Utilities in a research note on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Algonquin Power & Utilities currently has an average rating of “Moderate Buy” and an average target price of $6.83.
Check Out Our Latest Stock Report on Algonquin Power & Utilities
Algonquin Power & Utilities Company Profile
Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.
The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.
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