Algonquin Power & Utilities (NYSE:AQN) Reaches New 1-Year Low - Here's Why

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $4.79 and last traded at $4.83, with a volume of 304474 shares trading hands. The stock had previously closed at $4.84.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AQN. Scotiabank lowered their price objective on Algonquin Power & Utilities from $6.50 to $5.75 and set a "sector perform" rating on the stock in a report on Tuesday, August 13th. Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They issued a "neutral" rating and a $6.00 price objective on the stock. National Bank Financial upgraded Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a report on Monday, August 12th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $6.00 price objective on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Finally, CIBC lowered their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.23.

Algonquin Power & Utilities Stock Up 0.7 %

The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.78. The company has a market capitalization of $3.74 billion, a PE ratio of -9.84 and a beta of 0.66. The business's 50 day simple moving average is $5.28 and its 200 day simple moving average is $5.80.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $635.95 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The business's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. As a group, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.43 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Monday, September 30th. Algonquin Power & Utilities's payout ratio is -53.06%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Krilogy Financial LLC raised its stake in shares of Algonquin Power & Utilities by 0.3% in the 2nd quarter. Krilogy Financial LLC now owns 707,000 shares of the utilities provider's stock valued at $4,143,000 after acquiring an additional 1,800 shares during the period. Private Advisor Group LLC lifted its stake in Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider's stock worth $97,000 after purchasing an additional 2,201 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of Algonquin Power & Utilities by 4.1% in the second quarter. Hennessy Advisors Inc. now owns 108,564 shares of the utilities provider's stock valued at $636,000 after buying an additional 4,300 shares in the last quarter. Value Partners Investments Inc. raised its holdings in shares of Algonquin Power & Utilities by 31.8% in the 1st quarter. Value Partners Investments Inc. now owns 18,338 shares of the utilities provider's stock valued at $116,000 after buying an additional 4,428 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Algonquin Power & Utilities by 25.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider's stock worth $179,000 after acquiring an additional 5,863 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

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.