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

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as C$6.53 and last traded at C$6.60, with a volume of 537334 shares. The stock had previously closed at C$6.57.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James cut shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research note on Monday, August 12th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company lowered Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$6.25.

Algonquin Power & Utilities Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48. The firm has a market cap of C$5.08 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.07 and a beta of 0.52. The business’s 50-day simple moving average is C$7.15 and its two-hundred day simple moving average is C$7.95.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, August 9th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.11 by C$0.01. The firm had revenue of C$819.06 million for the quarter, compared to analysts’ expectations of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%. As a group, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

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.