Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities. The company also owns and operates hydroelectric, wind, solar, and thermal facilities with generating capacity of approximately 2.3 gigawatt; and regulated electric, natural gas, water distribution, and wastewater collection utility systems. As of December 31, 2021, it serves approximately 307,000 electric connections; 373,000 natural gas connections; and 413,000 regulated water distribution and wastewater collection utility systems. The company was incorporated in 1988 and is headquartered in Oakville, Canada.
Algonquin Power & Utilities Stock Up 0.3 %
Shares of NYSE:AQN opened at $14.54 on Tuesday. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 2.60 and a beta of 0.45. The firm's 50-day simple moving average is $13.71 and its 200-day simple moving average is $14.35. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. Algonquin Power & Utilities has a fifty-two week low of $12.88 and a fifty-two week high of $16.01.
Algonquin Power & Utilities (NYSE:AQN - Get Rating) last issued its earnings results on Thursday, August 11th. The utilities provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. Algonquin Power & Utilities had a net margin of 8.27% and a return on equity of 7.04%. During the same period in the prior year, the business earned $0.15 EPS. As a group, equities research analysts predict that Algonquin Power & Utilities will post 0.74 earnings per share for the current year.
Algonquin Power & Utilities Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be issued a dividend of $0.1808 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Wednesday, September 28th. Algonquin Power & Utilities's dividend payout ratio is currently 240.00%.
Wall Street Analysts Forecast Growth
AQN has been the topic of several research reports. TD Securities lowered their price objective on shares of Algonquin Power & Utilities from $17.00 to $16.50 and set a "buy" rating on the stock in a research report on Monday, May 16th. Raymond James lowered their price objective on shares of Algonquin Power & Utilities from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Friday, May 13th. Credit Suisse Group lowered their price objective on shares of Algonquin Power & Utilities to $16.00 in a research report on Friday, May 27th. National Bank Financial downgraded shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $16.00 price objective on the stock. in a research report on Wednesday, May 4th. Finally, National Bankshares downgraded shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $16.00 price objective on the stock. in a research report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $16.31.