Algonquin Power & Utilities (TSE:AQN) Price Target Lowered to C$5.50 at Desjardins

Algonquin Power & Utilities (TSE:AQN) had its price target reduced by Desjardins from C$5.75 to C$5.50 in a research report sent to investors on Tuesday, BayStreet.CA reports. They currently have a hold rating on the stock.

Algonquin Power & Utilities Stock Down 0.8 %

AQN opened at C$8.41 on Tuesday. The stock’s fifty day simple moving average is C$8.22 and its 200 day simple moving average is C$8.12. Algonquin Power & Utilities has a 1-year low of C$6.75 and a 1-year high of C$12.31. The stock has a market cap of C$5.80 billion, a PE ratio of 210.25, a price-to-earnings-growth ratio of 1.07 and a beta of 0.45. The company has a current ratio of 0.63, a quick ratio of 0.37 and a debt-to-equity ratio of 123.16.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings data on Friday, March 8th. The company reported C$0.22 earnings per share for the quarter, beating the consensus estimate 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 net margin of 1.06% and a negative return on equity of 0.47%. As a group, research analysts expect that Algonquin Power & Utilities will post 0.6970954 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.294 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 13.98%. The ex-dividend date of this dividend was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio is presently 1,475.00%.

Algonquin Power & Utilities Company Profile

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.