Algonquin Power & Utilities Corp. (TSE:AQN – Get Free Report) shares lost 11.9% on Friday, trading at C$7.43 and last traded at C$7.48. About 1,886,468 shares changed hands during trading, a 26% decline from the average daily volume of 2,550,310 shares. The stock had previously closed at C$8.49.
Changes in analyst ratings
Separately, Desjardins lowered their price target on Algonquin Power & Utilities from C$5.75 to C$5.50 and gave the stock a “hold” rating in a research report on Tuesday, April 30.
Get our latest stock report on Algonquin Power & Utilities
Algonquin Power & Utilities share price development
The company has a market cap of CAD$5.12 billion, a price to earnings ratio of -11.07, a price to earnings growth ratio of 1.07 and a beta of 0.47. The company has a 50-day moving average of CAD$8.27 and a 200-day moving average of CAD$8.32. The company has a quick ratio of 0.37, a current ratio of 0.98 and a debt-to-equity ratio of 141.91.
Algonquin Power & Utilities (TSE:AQN – Get Free Report) last released its quarterly earnings results on Friday, May 10. The company reported earnings per share of C$0.19 for the quarter, missing the consensus estimate of C$0.20 by C$0.01. The company had revenue of C$993.71 million for the quarter, compared to analyst estimates of C$1.11 billion. Algonquin Power & Utilities had a negative return on equity of 5.84% and a negative net margin of 12.44%. On average, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post earnings per share of C$0.6494624 for the current fiscal year.
Algonquin Power & Utilities cuts dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will receive a dividend of $0.09. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, September 27th. Algonquin Power & Utilities’ payout ratio is currently -89.55%.
Algonquin Power & Utilities Company Profile
(Get free report)
Algonquin Power & Utilities Corp. is engaged in the energy and utilities industry 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 regulated electric power, water distribution and wastewater collection, and natural gas supply systems and transmission operations.
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