Algonquin Power & Utilities Corp. (NYSE:AQN) to Issue Quarterly Dividend of $0.07

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, May 8th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.065 per share by the utilities provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 30th.

Algonquin Power & Utilities has decreased its dividend by an average of 0.3%per year over the last three years. Algonquin Power & Utilities has a dividend payout ratio of 72.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Algonquin Power & Utilities to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 63.4%.

Algonquin Power & Utilities Trading Up 1.0%

AQN opened at $6.02 on Friday. Algonquin Power & Utilities has a 1-year low of $5.32 and a 1-year high of $7.11. The stock has a market capitalization of $4.63 billion, a PE ratio of 27.37 and a beta of 0.71. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $6.03 and a two-hundred day moving average price of $6.26.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. The company had revenue of $713.69 million for the quarter, compared to analyst estimates of $713.69 million. During the same period in the prior year, the business earned $0.14 earnings per share. As a group, equities analysts anticipate that Algonquin Power & Utilities will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AQN shares. TD Cowen dropped their price objective on shares of Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Barclays began coverage on Algonquin Power & Utilities in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 target price for the company. Canadian Imperial Bank of Commerce upped their price target on Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a “neutral” rating in a research note on Monday, April 20th. Zacks Research cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, National Bank Financial lowered their price objective on Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating for the company in a research report on Monday, March 9th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.83.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.