Algonquin Power & Utilities Corp. (AQN) to Issue Quarterly Dividend of $0.07 on April 15th

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, March 7th, NASDAQ Dividends reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.065 per share by the utilities provider on Tuesday, April 15th. This represents a $0.26 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend is Monday, March 31st.

Algonquin Power & Utilities has decreased its dividend payment by an average of 19.6% 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 $0.31 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 Performance

NYSE AQN opened at $4.79 on Friday. The company has a market cap of $3.67 billion, a P/E ratio of -3.71 and a beta of 0.71. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The business’s 50 day moving average price is $4.59 and its 200-day moving average price is $4.86. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The company had revenue of $584.80 million for the quarter, compared to the consensus estimate of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. Sell-side analysts predict that Algonquin Power & Utilities will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. National Bankshares cut their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Finally, Scotiabank upped their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Algonquin Power & Utilities Company Profile

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.