Algonquin Power & Utilities Corp. (NYSE:AQN) Declares $0.07 Quarterly Dividend

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) declared a quarterly dividend on Friday, March 7th, NASDAQ Dividends reports. Shareholders of record on Monday, March 31st will be paid 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 5.57%. 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 76.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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 Price Performance

Shares of AQN stock traded down $0.23 during trading hours on Tuesday, hitting $4.67. 9,600,599 shares of the company's stock were exchanged, compared to its average volume of 10,097,103. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. The firm has a market cap of $3.58 billion, a P/E ratio of -3.62 and a beta of 0.71. 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 firm has a 50 day moving average of $4.60 and a two-hundred day moving average of $4.86.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. National Bankshares reduced their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Scotiabank raised their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Algonquin Power & Utilities presently has an average rating of "Hold" and an average price target of $6.00.

About Algonquin Power & Utilities

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.