Algonquin Power & Utilities (TSE:AQN) Reaches New 52-Week High – Here’s What Happened

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) hit a new 52-week high during trading on Thursday . The stock traded as high as C$24.66 and last traded at C$6.37, with a volume of 2692873 shares. The stock had previously closed at C$6.34.

Algonquin Power & Utilities Stock Performance

The stock has a market cap of C$4.86 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. The stock’s 50 day simple moving average is C$6.49 and its two-hundred day simple moving average is C$7.17.

Algonquin Power & Utilities (TSE:AQN) last announced its earnings results on Thursday, November 7th. The company reported C$0.10 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.11 by C($0.01). Algonquin Power & Utilities had a return on equity of 0.24% and a net margin of 4.70%. During the same quarter last year, the business earned $0.15 earnings per share. As a group, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.088 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.35 annualized dividend and a yield of 5.56%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Insider Buying and Selling at Algonquin Power & Utilities

In other news, Director David Levenson bought 62,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of C$6.45 per share, with a total value of C$399,900.00. Also, Director Dilek Samil sold 17,400 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$6.46, for a total value of C$112,421.40. Corporate insiders own 0.06% of the company’s stock.

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.