Algonquin Power & Utilities (TSE:AQN) Hits New 52-Week High - Still a Buy?

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$24.60 and last traded at C$6.31, with a volume of 396864 shares trading hands. The stock had previously closed at C$6.41.

Algonquin Power & Utilities Trading Down 1.2 %

The firm has a market cap of C$4.86 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97. The stock has a fifty day simple moving average of C$6.57 and a 200 day simple moving average of C$7.30.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.088 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.56%. Algonquin Power & Utilities's dividend payout ratio is presently 163.64%.

Insiders Place Their Bets

In related news, Director Christopher Huskilson acquired 25,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of C$6.65 per share, with a total value of C$166,252.50. Also, Director Dilek Samil sold 17,400 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$6.46, for a total value of C$112,421.40. 0.06% of the stock is currently owned by insiders.

About Algonquin Power & Utilities

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.