Algonquin Power & Utilities Corp. (NYSE:AQN – Get Free Report) declared a quarterly dividend on Friday, August 7th. Investors of record on Tuesday, September 29th will be given a dividend of 0.065 per share by the utilities provider on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, September 29th.
Algonquin Power & Utilities has decreased its dividend payment by an average of 0.3%per year over the last three years. Algonquin Power & Utilities has a dividend 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 Price Performance
AQN stock opened at $5.74 on Friday. Algonquin Power & Utilities has a 52-week low of $5.32 and a 52-week high of $7.11. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.26. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 26.07 and a beta of 0.70. The business has a fifty day moving average of $5.85 and a two-hundred day moving average of $6.18.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on AQN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Algonquin Power & Utilities in a research report on Friday, July 17th. National Bank Financial decreased their price target on Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, July 3rd. Wells Fargo & Company started 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 for the company. Finally, Canadian Imperial Bank of Commerce increased their target price on Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.81.
View Our Latest Stock Analysis on Algonquin Power & Utilities
About Algonquin Power & Utilities
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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