Insider Selling: Algonquin Power & Utilities Corp (AQN) Senior Officer Sells 277,594 Shares of Stock

Algonquin Power & Utilities Corp (TSE:AQN) Senior Officer Ian Edward Robertson sold 277,594 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of C$15.00, for a total transaction of C$4,163,271.53. Following the completion of the transaction, the insider now owns 1,318,021 shares in the company, valued at C$19,767,283.55.

Shares of AQN stock traded up C$0.15 during trading on Tuesday, hitting C$15.10. The company had a trading volume of 1,666,042 shares, compared to its average volume of 1,104,289. The company has a current ratio of 0.99, a quick ratio of 0.59 and a debt-to-equity ratio of 82.62. The stock has a market cap of $7.31 billion and a price-to-earnings ratio of 39.74. Algonquin Power & Utilities Corp has a 52 week low of C$12.18 and a 52 week high of C$15.16.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a $0.169 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Thursday, March 28th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 173.50%.

Several research analysts recently weighed in on AQN shares. BMO Capital Markets restated an “outperform” rating and issued a C$12.50 price objective on shares of Algonquin Power & Utilities in a research report on Wednesday, December 5th. National Bank Financial upped their price objective on shares of Algonquin Power & Utilities from C$11.00 to C$11.50 and gave the stock a “sector perform” rating in a research report on Tuesday, February 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Algonquin Power & Utilities from C$13.00 to C$14.00 in a research report on Monday, March 4th.

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About Algonquin Power & Utilities

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 and the United States. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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