Algonquin Power & Utilities (TSE:AQN) Reaches New 1-Year High at $22.90

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$22.90 and last traded at C$7.99, with a volume of 387760 shares traded. The stock had previously closed at C$7.94.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Monday, March 11th.

Algonquin Power & Utilities Trading Up 1.4 %

The business’s 50-day moving average price is C$8.16 and its two-hundred day moving average price is C$8.09. The firm has a market cap of C$5.55 billion, a price-to-earnings ratio of 199.50, a price-to-earnings-growth ratio of 1.07 and a beta of 0.45. The company has a debt-to-equity ratio of 123.16, a current ratio of 0.63 and a quick ratio of 0.37.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings results on Friday, March 8th. The company reported C$0.22 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.19 by C$0.03. The company had revenue of C$908.00 million for the quarter, compared to analyst estimates of C$1 billion. Algonquin Power & Utilities had a negative return on equity of 0.47% and a net margin of 1.06%. Equities analysts expect that Algonquin Power & Utilities Corp. will post 0.6970954 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.294 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 14.61%. The ex-dividend date of this dividend was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio is currently 1,475.00%.

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.