Algonquin Power & Utilities Corp. (AQN) To Go Ex-Dividend on December 31st

Algonquin Power & Utilities Corp. (NYSE:AQN) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.065 per share by the utilities provider on Wednesday, January 15th. This represents a $0.26 annualized dividend and a yield of 5.80%. The ex-dividend date is Tuesday, December 31st.

Algonquin Power & Utilities has decreased its dividend payment by an average of 10.7% per year over the last three years. Algonquin Power & Utilities has a dividend payout ratio of 86.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Algonquin Power & Utilities to earn $0.32 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 81.3%.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at $4.48 on Friday. The business’s fifty day moving average is $4.74 and its 200 day moving average is $5.32. Algonquin Power & Utilities has a 12-month low of $4.25 and a 12-month high of $6.79. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The stock has a market cap of $3.44 billion, a P/E ratio of -3.47 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. Sell-side analysts anticipate that Algonquin Power & Utilities will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AQN shares. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price objective on shares of Algonquin Power & Utilities in a report on Friday, October 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Scotiabank dropped their price objective on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. CIBC cut their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.25.

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.