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

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) declared a quarterly dividend on Friday, March 7th, NASDAQ Dividends reports. Investors 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 5.39%. The ex-dividend date is Monday, March 31st.

Algonquin Power & Utilities has decreased its dividend by an average of 19.6% per year over the last three years. Algonquin Power & Utilities has a dividend payout ratio of 76.5% indicating that 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 Stock Up 2.4 %

NYSE:AQN traded up $0.12 during midday trading on Wednesday, hitting $4.83. 17,594,569 shares of the company were exchanged, compared to its average volume of 10,408,193. Algonquin Power & Utilities has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. The company has a market capitalization of $3.70 billion, a PE ratio of -3.74 and a beta of 0.71. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $4.60 and a 200 day simple moving average of $4.85.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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 on the stock in a research note on Tuesday, February 18th. National Bankshares lowered their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Finally, Scotiabank lifted their price objective on shares of 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.94.

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.