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

Key Points

• Algonquin Power & Utilities Corp. has declared a quarterly dividend of $0.07, with an annualized yield of 4.5% for investors of record on September 30th.
• The company reported a quarterly earnings per share (EPS) of $0.04, matching analysts' estimates, and is forecasted to earn $0.31 per share next year.
• Algonquin has a dividend payout ratio of 72.2%, indicating that its dividends are well-covered by earnings, with expectations of an increased payout ratio in the future.

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) declared a quarterly dividend on Friday, August 8th, RTT News reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.065 per share by the utilities provider on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 4.5%.

Algonquin Power & Utilities has a dividend payout ratio of 72.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 2.3%

NYSE:AQN traded down $0.14 during trading hours on Friday, hitting $5.79. The stock had a trading volume of 699,675 shares, compared to its average volume of 10,706,171. The business's 50 day moving average is $5.84 and its 200-day moving average is $5.32. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.94 and a current ratio of 1.16. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -3.73 and a beta of 0.68. Algonquin Power & Utilities has a one year low of $4.19 and a one year high of $6.24.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $535.59 million for the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a positive return on equity of 4.74% and a negative net margin of 48.78%. During the same quarter last year, the business posted $0.09 EPS. Sell-side analysts anticipate that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of Algonquin Power & Utilities by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider's stock valued at $76,000 after buying an additional 2,073 shares in the last quarter. Ballentine Partners LLC boosted its position in Algonquin Power & Utilities by 10.6% during the 2nd quarter. Ballentine Partners LLC now owns 23,484 shares of the utilities provider's stock worth $135,000 after buying an additional 2,242 shares during the period. US Bancorp DE grew its holdings in Algonquin Power & Utilities by 85.7% during the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock worth $25,000 after acquiring an additional 2,256 shares during the last quarter. Quadrant Capital Group LLC increased its position in Algonquin Power & Utilities by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after acquiring an additional 5,060 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Algonquin Power & Utilities by 5.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 114,834 shares of the utilities provider's stock valued at $583,000 after acquiring an additional 5,693 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.