Algonquin Power & Utilities Corp. (TSE:AQN – Get Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$8.32 and traded as high as C$9.10. Algonquin Power & Utilities shares last traded at C$8.94, with a volume of 2,015,416 shares traded.
Analysts Set New Price Targets
Separately, Desjardins decreased their price objective on shares of Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating for the company in a research note on Tuesday, April 30th.
View Our Latest Stock Analysis on AQN
Algonquin Power & Utilities Price Performance
Algonquin Power & Utilities (TSE:AQN – Get Free Report) last announced its earnings results on Friday, March 8th. The company reported C$0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.19 by C$0.03. The business had revenue of C$908.00 million for the quarter, compared to analysts’ expectations of C$1 billion. Algonquin Power & Utilities had a negative return on equity of 5.84% and a negative net margin of 12.44%. On average, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.6494624 earnings per share for the current fiscal year.
Algonquin Power & Utilities Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a yield of 6.71%. Algonquin Power & Utilities’s dividend payout ratio is presently -89.55%.
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.
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