Algonquin Power & Utilities (TSE:AQN) Reaches New 52-Week Low – Should You Sell?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$6.42 and last traded at C$6.45, with a volume of 1661276 shares trading hands. The stock had previously closed at C$6.59.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Algonquin Power & Utilities has an average rating of “Hold” and a consensus target price of C$5.50.

Algonquin Power & Utilities Trading Down 1.2 %

The company has a 50 day moving average of C$6.84 and a 200-day moving average of C$7.63. The stock has a market cap of C$4.87 billion, a price-to-earnings ratio of 29.41, 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 quick ratio of 0.37 and a current ratio of 0.97.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.088 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 annualized dividend and a dividend yield of 5.54%. Algonquin Power & Utilities’s dividend payout ratio is presently 163.64%.

Insider Activity at Algonquin Power & Utilities

In related news, Director Christopher Huskilson purchased 25,000 shares of Algonquin Power & Utilities stock in a transaction on Friday, November 8th. The shares were bought at an average price of C$6.65 per share, with a total value of C$166,252.50. Company 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.